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The inflation rate, also known as the inflation rate, provides information about how high or low inflation is at the moment.
All goods and services that are consumed or used by private households are used to determine the inflation rate. The European Central Bank (ECB) describes this as follows: “To calculate inflation, a fictitious basket of goods is put together. This basket of goods contains all the goods and services that private households consume or make use of over the course of a year. Each product in this cart has a price. This can change over time. The annual inflation rate is the price of the entire basket in a given month compared to the price of the basket in the same month of the previous year.”