Organisation for Economic Co-operation and Development

November 2023

November 2023

The source adds the following information: "Inflation forecast is measured in terms of the consumer price index (CPI) or harmonized index of consumer prices (HICP) for euro area countries, the euro area aggregate and the United Kingdom. Inflation measures the general evolution of prices. It is defined as the change in the prices of a basket of goods and services that are typically purchased by households. Projections are based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and expert judgement. The indicator is expressed in annual growth rates."