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 November 2023

Variation of previous periods

Methodology of calculation

• Publication calendar

  Data reference month	Date of publication
  November 2022	19 January
  December 2022	24 February
  January	21 March
  February	20 April
  March	18 May
  April	19 June
  May	20 July
  June	21 August
  July	20 September
  August	19 October
  September	20 November
  October	20 December