What is consumer price index in SAP PY-UA - Ukraine?

SAP Term: consumer price index

• Component: PY-UA

• Component Name: Ukraine

• Description: A statistical estimate of the amount by which prices for certain products and services rise month on month. Employers use the consumer price index as the basis for making additional payments to their employees. The additional payments, known as indexation payments, ensure that an employee’s purchasing power remains the same following inflation. The State Statistics Committee of publishes the CPI each month, with a delay of two months.

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• Key Concepts: 
  The Consumer Price Index (CPI) is a measure of the average change in prices over time for goods and services purchased by consumers. It is used to measure inflation and deflation in Ukraine, which is represented by the PY-UA Ukraine component. 
  
  How to use it: 
  The CPI is used to measure the average change in prices over time for goods and services purchased by consumers. It is used to measure inflation and deflation in Ukraine, which is represented by the PY-UA Ukraine component. The CPI can be used to compare the cost of living between different countries or regions, as well as to compare the cost of living over time. 
  
  Tips & Tricks: 
  When using the CPI, it is important to remember that it only measures changes in prices and does not take into account changes in quality or quantity of goods and services purchased. Additionally, it is important to note that the CPI does not take into account changes in taxes or subsidies. 
  
  Related Information: 
  The CPI is calculated by the State Statistics Service of Ukraine (SSSU). The SSSU publishes monthly CPI data for Ukraine, which can be accessed on their website. Additionally, the World Bank publishes an annual CPI report for Ukraine, which can be accessed on their website.