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

Updated on 12nd September 2013

 

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): 78.544
  • - CPI August 2003 (See table 1) : 80.895

(Three-decimal) indices quotient: 80.895 / 78.544 =1.030

Updated income = 400 € x (80.895 / 78.544) = 400 € x 1.030 = 412€

Table 1. CPI base 2011
Year   January February March April May June July August Sep. Oct. Nov. Dec.
2002 76.826 76.892 77.528 78.580 78.863 78.867 78.319 78.544 78.838 79.618 79.742 80.007
2003 79.677 79.847 80.401 81.055 80.980 81.033 80.525 80.895 81.136 81.683 81.949 82.090
2004 81.514 81.551 82.121 83.245 83.736 83.869 83.233 83.600 83.750 84.610 84.822 84.739
2005 84.025 84.243 84.909 86.132 86.297 86.498 85.969 86.346 86.877 87.584 87.716 87.904
2006 87.548 87.590 88.210 89.454 89.776 89.913 89.377 89.560 89.413 89.780 90.002 90.248
2007 89.642 89.703 90.383 91.631 91.883 92.052 91.383 91.508 91.808 92.998 93.665 94.057
2008 93.475 93.621 94.451 95.468 96.113 96.666 96.202 95.995 95.976 96.306 95.897 95.405
2009 94.229 94.239 94.394 95.316 95.283 95.702 94.885 95.216 94.992 95.669 96.188 96.163
2010 95.198 95.025 95.730 96.749 96.965 97.138 96.703 96.946 97.013 97.900 98.431 99.036
2011 98.311 98.436 99.172 100406 100.373 100.232 99.693 99.817 100.061 100.850 101.259 101.391
2012 100.275 100.380 101.055 102.474 102.323 102.132 101.893 102.467 103.475 104.355 104.225 104.298
2013 102.966 103.144 103.507 103.894 104.085 104.239 103.701 104.023        

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 2011, (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 2011
Year   January February March April May June July August Sep. Oct. Nov. Dec.
2002 76.826 76.892 77.528 78.580 78.863 78.867 78.319 78.544 78.838 79.618 79.742 80.007
2003 79.677 79.847 80.401 81.055 80.980 81.033 80.525 80.895 81.136 81.683 81.949 82.090
2004 81.514 81.551 82.121 83.245 83.736 83.869 83.233 83.600 83.750 84.610 84.822 84.739
2005 84.025 84.243 84.909 86.132 86.297 86.498 85.969 86.346 86.877 87.584 87.716 87.904
2006 87.548 87.590 88.210 89.454 89.776 89.913 89.377 89.560 89.413 89.780 90.002 90.248
2007 89.642 89.703 90.383 91.631 91.883 92.052 91.383 91.508 91.808 92.998 93.665 94.057
2008 93.475 93.621 94.451 95.468 96.113 96.666 96.202 95.995 95.976 96.306 95.897 95.405
2009 94.229 94.239 94.394 95.316 95.283 95.702 94.885 95.216 94.992 95.669 96.188 96.163
2010 95.198 95.025 95.730 96.749 96.965 97.138 96.703 96.946 97.013 97.900 98.431 99.036
2011 98.311 98.436 99.172 100406 100.373 100.232 99.693 99.817 100.061 100.850 101.259 101.391
2012 100.275 100.380 101.055 102.474 102.323 102.132 101.893 102.467 103.475 104.355 104.225 104.298
2013 102.966 103.144 103.507 103.894 104.085 104.239 103.701 104.023        

 

Table 2. ULL coefficients. CPI Base 2011
January February March April May June July August Sep. Oct. Nov. Dec.
1.789556 1.795107 1.788290 1.781844 1.781905 1.783970 1.801152 1.804359 1.795118 1.783846 1.778742 1.780544

 

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        

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€