Arithmetic mean: Arises from the result of dividing the sum of the numbers given by the amount of added numbers. For example: given the numbers 1200, 1400, 1000 and 1600, in order to determine the arithmetic mean value of this set we just total it, and divide the total obtained by the quantity of values in the set:
Geometric mean: of positive numbers is defined as the product of all members in the set, raised to the inverse of the number of members. For example, the geometric mean of the numbers 4, 1, and 1/32 is defined as follows: cube root of their product (1/8) which is 1/2; that is:
Exchange-rate pass-through: It is the size of the pass-through of exchange rate changes to prices. In other words, it is how much an increase (or decrease) in the exchange rate does inflation go up (or down).
Core Inflation: Also called adjacent inflation is a measure that seeks to capture the trend of prices, disregarding disturbances resulting from temporary shocks arising from weather or seasonality. It is an inflation measure designed to detect fundamental changes in prices, which can be caused by demand pressures on productive capacity, permanent shocks in relative prices or changes in inflation expectations.
Seasonality: Something proper of a season, an event that always occurs at a certain time in the year. Prices of some products and services in IPC may have strong change in certain months. The shelters, for example, go up in price in winter.
Volatility: The quality of something that is subject to frequent changes. In the case of prices, it is the amount and intensity of fluctuations and oscillations that occur in a series.
Administered prices: These are goods and services whose prices are set by contract or government agency. It includes telephony services, oil products (gasoline and cooking gas), electricity and health insurances, which are regulated by the federal government itself or by federal regulatory agencies. State prices include water and sewage rates, IPVA, public transport fares.
Weightings: It represents the importance of an item/group of items in the basket of a particular index at a specific time. The sum of all weights is equal to 100%.