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The global growth is projected at 3.6 percent in 2022 and 2023—0.8 and 0.2 percentage points lower than in the January forecast, respectively. The downgrade largely reflects the war's direct impacts on Russia and Ukraine and global spillovers. North Africa, and sub-Saharan Africa are most affected. The food and fuel price increases will hurt lower-income households globally

Data cited at: Consumer price indexes, The International Monetary Fund Consumer price indexes (CPIs) are index numbers that measure changes in the prices of goods and services purchased or otherwise acquired by households, which households use directly, or indirectly, to satisfy their own needs and wants. In practice, most CPIs are calculated as weighted averages of the percentage price changes for a specified set, or ‘‘basket’’, of consumer products, the weights reflecting their relative importance in household consumption in some period. CPIs are widely used to index pensions and social security benefits. CPIs are also used to index other payments, such as interest payments or rents, or the prices of bonds. CPIs are also commonly used as a proxy for the general rate of inflation, even though they measure only consumer inflation. They are used by some governments or central banks to set inflation targets for purposes of monetary policy. The price data collected for CPI purposes can also be used to compile other indices, such as the price indices used to deflate household consumption expenditures in national accounts, or the purchasing power parities used to compare real levels of consumption in different countries.

This release contains results of the monthly Survey of Consumer (Retail) Prices. The purpose of the survey is to collect and provide information regarding changes in the overall level of prices of all goods and services bought by the average household. This publication contains the CPI (Inflation) rates. The P0141 contains information on all urban areas and the Additional tables contains information for provinces, Primary urban areas, Secondary urban areas and rural areas. Average prices are calculated from data surveyed for the compilation of the consumer price index (CPI). Of the 412 items in the current CPI basket, 162 are included in the list of average prices. Selected items have average prices for two different sizes.