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Update of rental income by complete annuities with the CPI (ULA)

Updated on 14th November 2017

 

The Consumer Price Index (CPI) methodology was completely renewed in January 2002, and a new calculation system was introduced, which is the one that currently in effect. As a result of this change in the calculation method, rental income by complete annuities has to be updated following any of the procedures proposed hereunder:

A. With the calculation program Do you wish to update a rental income?

The program Would you like to update a personal income or spending? as you only need to enter the initial and final periods for which you need to update your income.

 

B.Calculating the update from the variation rates

The program How much has the CPI varied since....?provides you the increment that should apply to the income you want to update between the periods considered.

 

C. Directly perform calculations using the indices

To perform calculations directly, you should follow the recommendations set forth below, which will vary depending on the periods among which the rental income is to be updated. In this case, it is necessary to take into account that results might differ in some decimals, due to the rounding off as, for practical purposes, INE publishes index-related data rounded-off to three decimal places, but calculates variations using a larger number of decimals.

1. Update of rental income with the CPI between two months subsequent to January 2002

 formula de cálculo

NOTE: The indices quotient should be rounded to 3 decimals before being multiplied by the initial income

For example: You wish to update income with the CPI from August 2002 and August 2003.

  • - Income before updating = 400 euros
  • - CPI August 2002 (See table 1): 76.253
  • - CPI August 2003 (See table 1) : 78.535

(Three-decimal) indices quotient: 78.535 / 76.253 =1.030

Updated income = 400 € x (78.535 / 76.253) = 400 € x 1.030 = 412€

 

 

Table 1. CPI base 2016
Year   January February March April May June July August Sep. Oct. Nov. Dec.
2002 74.585 74.650 75.267 76.289 76.563 76.567 76.035 76.253 76.538 77.296 77.416 77.673
2003 77.354 77.518 78.056 78.691 78.618 78.670 78.177 78.535 78.770 79.301 79.559 79.696
2004 79.137 79.173 79.726 80.817 81.294 81.423 80.805 81.162 81.307 82.143 82.348 82.268
2005 81.575 81.786 82.433 83.620 83.780 83.976 83.462 83.828 84.343 85.029 85.158 85.341
2006 84.994 85.035 85.637 86.845 87.158 87.290 86.771 86.948 86.805 87.161 87.377 87.616
2007 87.027 87.087 87.747 88.959 89.204 89.368 88.717 88.839 89.131 90.286 90.933 91.314
2008 90.749 90.890 91.697 92.684 93.310 93.847 93.396 93.196 93.177 93.497 93.100 92.622
2009 91.481 91.491 91.641 92.536 92.504 92.911 92.118 92.440 92.221 92.879 93.382 93.358
2010 92.422 92.254 92.938 93.928 94.137 94.305 93.882 94.119 94.184 95.045 95.560 96.148
2011 95.444 95.565 96.280 97.478 97.445 97.308 96.786 96.906 97.143 97.909 98.306 98.434
2012 97.351 97.452 98.108 99.486 99.338 99.153 98.921 99.479 100.458 101.311 101.186 101.257
2013 99.963 100.136 100.488 100.864 101.050 101.199 100.677 100.990 100.801 101.210 101.421 101.512
2014 100.162 100.118 100.342 101.235 101.258 101.286 100.334 100.492 100.645 101.114 101.044 100.455
2015 98.841 99.043 99.676 100.592 101.073 101.343 100.402 100.068 99.761 100.399 100.767 100.472
2016 98.556 98.208 98.838 99.531 100.074 100.537 99.806 99.934 99.939 101.081 101.447 102.049
2017 101.488 101.122 101.101 102.073 102.011 102.055 101.351 101.553 101.730 102.668    

2. Update of rental income with the CPI between a month prior to January 2002 and another subsequent one

 formula de cálculo

NOTE: The indices quotient should be rounded to 3 decimals before being multiplied by the initial income

The ULL index (table 3) from each month is obtained by multiplying the general monthly index, in base 2016, (table 1) by the ULL coefficient (table 2) from that same month:

For example: You wish to update income with the CPI from January 2001 to January 2002.

  • - Income before updating = 400 euros
  • - CPI from January 2001 (See  Table 4): 133.413
  • - ULL Index from January 2002 (See table 3)= 137.484

(Three-decimal) indices quotient: 137.484 / 133.413 = 1.031

Updated income = 400 € x (137.484/133.413) = 400 € x 1.031 = 412.40€

Note: The indexes in table 1 and the coefficients in table 2 are rounded up to three and six decimals, respectivelly. The ULL index is figured out by using said data with the largest number of decimals.

 

 

Table 1. CPI base 2016
Year   January February March April May June July August Sep. Oct. Nov. Dec.
2002 74.585 74.650 75.267 76.289 76.563 76.567 76.035 76.253 76.538 77.296 77.416 77.673
2003 77.354 77.518 78.056 78.691 78.618 78.670 78.177 78.535 78.770 79.301 79.559 79.696
2004 79.137 79.173 79.726 80.817 81.294 81.423 80.805 81.162 81.307 82.143 82.348 82.268
2005 81.575 81.786 82.433 83.620 83.780 83.976 83.462 83.828 84.343 85.029 85.158 85.341
2006 84.994 85.035 85.637 86.845 87.158 87.290 86.771 86.948 86.805 87.161 87.377 87.616
2007 87.027 87.087 87.747 88.959 89.204 89.368 88.717 88.839 89.131 90.286 90.933 91.314
2008 90.749 90.890 91.697 92.684 93.310 93.847 93.396 93.196 93.177 93.497 93.100 92.622
2009 91.481 91.491 91.641 92.536 92.504 92.911 92.118 92.440 92.221 92.879 93.382 93.358
2010 92.422 92.254 92.938 93.928 94.137 94.305 93.882 94.119 94.184 95.045 95.560 96.148
2011 95.444 95.565 96.280 97.478 97.445 97.308 96.786 96.906 97.143 97.909 98.306 98.434
2012 97.351 97.452 98.108 99.486 99.338 99.153 98.921 99.479 100.458 101.311 101.186 101.257
2013 99.963 100.136 100.488 100.864 101.050 101.199 100.677 100.990 100.801 101.210 101.421 101.512
2014 100.162 100.118 100.342 101.235 101.258 101.286 100.334 100.492 100.645 101.114 101.044 100.455
2015 98.841 99.043 99.676 100.592 101.073 101.343 100.402 100.068 99.761 100.399 100.767 100.472
2016 98.556 98.208 98.838 99.531 100.074 100.537 99.806 99.934 99.939 101.081 101.447 102.049
2017 101.488 101.122 101.101 102.073 102.011 102.055 101.351 101.553 101.730 102.668    

 

Table 2. ULL coefficients. CPI Base 2016
January February March April May June July August Sep. Oct. Nov. Dec.
1.843315 1.849032 1.842010 1.835371 1.835434 1.837560 1.855259 1.858562 1.849043 1.837433 1.832176 1.834031

 

Table 3. ULL Indices
Year January February March April May June July August Sep. Oct. Nov. Dec.
2002 137.484 138.030 138.642 140.018 140.526 140.696 141.065 141.721 141.523 142.027 141.841 142.455
2003 142.587 143.333 143.779 144.427 144.298 144.560 145.039 145.963 145.648 145.710 145.767 146.165
2004 145.874 146.393 146.856 148.329 149.210 149.619 149.914 150.845 150.341 150.932 150.876 150.882
2005 150.367 151.225 151.842 153.474 153.773 154.310 154.844 155.800 155.954 156.236 156.025 156.518
2006 156.671 157.233 157.745 159.394 159.973 160.401 160.982 161.598 160.506 160.153 160.090 160.691
2007 160.419 161.026 161.631 163.273 163.728 164.218 164.594 165.113 164.807 165.895 166.605 167.473
2008 167.279 168.059 168.906 170.110 171.263 172.449 173.274 173.210 172.287 171.794 170.576 169.872
2009 168.628 169.170 168.804 169.838 169.785 170.729 170.902 171.805 170.521 170.659 171.093 171.222
2010 170.363 170.580 171.192 172.392 172.782 173.291 174.176 174.926 174.150 174.638 175.083 176.338
2011 175.933 176.704 177.348 178.908 178.855 178.810 179.562 180.106 179.621 179.900 180.114 180.530
2012 179.448 180.192 180.715 182.593 182.329 182.200 183.525 184.888 185.750 186.153 185.390 185.708
2013 184.263 185.155 185.101 185.124 185.470 185.959 186.781 187.695 186.386 185.967 185.822 186.177
2014 184.630 185.122 184.830 185.803 185.852 186.120 186.145 186.770 186.097 185.791 185.130 184.237
2015 182.194 183.135 183.604 184.624 185.513 186.224 186.272 185.983 184.462 184.477 184.623 184.269
2016 181.669 181.590 182.060 182.676 183.680 184.744 185.166 185.733 184.791 185.730 185.869 187.160
2017 187.074 186.978 186.229 187.341 187.234 187.532  188.032 188.742 188.702 188.646    

3. Update of rental income with the CPI between two months prior to January 2002

formula de cálculo

NOTE: The indices quotient should be rounded to 3 decimals before being multiplied by the initial income

For example: You wish to update income with the CPI from August 1999 and August 2001.

  • - Income before updating = 400 euros
  • - CPI August 1999 (See  Table 4): 127.312
  • - CPI August 2001 (See  Table 4): 136.745

(Three-decimal) indices quotient:: 136.745 / 127.312 =1.074

Updated income = 400 € x (136.745 / 127.312) = 400 € x 1.074 = 429.60€