• Competitiveness Guarantee Index. Informative note

Competitiveness Guarantee Index

As established in Act 2/2015, from 30 March, on the Deindexation of the Spanish Economy (BOE 31/03/2015), the INE is responsible for the calculation and monthly publication of the Competitiveness Guarantee Index (CGI).

This Index establishes a rate of review of prices consistent with the recovery of competitiveness in the Eurozone. This rate will be the same as that of the Harmonized Index of Consumer Prices (HICP) of the UEM minus a part of the loss of competitiveness accumulated by Spain since 1999. When the variation rate of this index stands below 0 per cent, this value will be taken as reference, which will equal the application of the rule of no revision. When the variation rate of this index surpasses the ECB short-term annual inflation objective (2 per cent), this value will be taken as reference. This way, we ensure that contracts to which this new index is applied contribute to guarantee the maintenance of short-term economic competitiveness.

Uptaded on 20th May 2021

 

Competitiveness Guarantee Index
Last period published Variation %
March 2020 to March 2021 -1.32

Variation of previous periods

Methodology of calculation

  • Publication calendar

    Data reference month Date of publication
    November 2020 21 January
    December 2020 24 February
    January 18 March
    February 19 April
    March 20 May
    April 18 June
    May 19 July
    June 19 August
    July 20 September
    August 21 October
    September 18 November
    October 20 December