Inflation
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| Consumer Price Index | Is an index drawn up by the Central Statistics Office (CSO) to measure the changes in the general level of prices over a period of time.
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| Price Index | Measures the changes in prices over a period of time.
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| Simple Price Index | Measures the change in price of one good only.
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| Composite Price Index | Measures the change in price of a number of goods together.
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| Inflation | A steady and persistent increase in the general level of prices. Inflation leads to an increase in the cost of living.
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| Deflation | This is a decline in the general level prices.
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| Harmonised Index of Consumer Prices (HICP) | Is the measure of price changes calculated by each member state of the European Union (EU). The index is based on a harmonisation and standardisation of practices within the EU.
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| Real Wages | Look at the purchasing power of your wages when you take inflation into account.
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| Economic Indicator | Is any statistic which reflects the performance of the economy.
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| Constant Tax Price Index(CTPI) | Is one that omits price increases due to increases in direct taxes when compiling the CPI.
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| Demand-Pull Inflation | Occurs when aggregate demand in the economy exceeds supply resulting in an increase in the general level of prices.
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| Cost-Push Inflation | Occurs when increases in the cost of production are passed onto the consumer in the form of increased prices.
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| National Wage Agreements | Are agreements between the social partners. The main parties to these agreements as far as wages are concerned – are the Irish Congress of Trade Unions, the Irish Business and Employers Confederation, various farming organisations and the government.
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| Money Income | Is the monetary value of your income.
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| Negative Interest Rate | This is when the rate of inflation is greater than the rate of interest.
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| Household Budget Survey | Is a survey carried out by the CSO to find out the percentage of income which people send on various goods and services, on average.
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