Non-Core CPI
Non-Core CPI is the component of the consumer price index that captures all items excluded from the core CPI — typically the most volatile categories such as food and energy, plus regulated and seasonal prices. As part of the Latin Macro Watch (LMW) database maintained by the Inter-American Development Bank (IDB), this indicator helps researchers, central banks and analysts separate transitory price movements from underlying inflation trends across Latin America and the Caribbean. Tracking the non-core component alongside headline and core CPI is essential for interpreting short-term inflation dynamics and the pass-through of supply shocks.
Coverage
The series is available for 3 countries across Latin America and the Caribbean at annual, monthly and quarterly frequency, covering 1990–2026. Values are published as an index and as an index rebased to 2023 = 100, in average-of-period and end-of-period forms as well as year-to-date (YTD), with month-on-month (MoM %), quarter-on-quarter (QoQ %) and year-on-year (YoY %) transformations.
Sources
Data are compiled from INEGI - Mexico and the Instituto Nacional de Estadística e Informática de Perú, together with internal calculations based on INDEC - Argentina. For Argentina, the non-core index is not published officially; it is derived residually from headline and core CPI using INDEC's official core weighting and should be read as an approximation of the seasonal-plus-regulated component rather than an officially published index.
Metadata & use
| Format | CSV |
|---|---|
| Language | en |
| Country |
Argentina
Bahamas
Trinidad & Tobago
Belize
Costa Rica
Dominican Republic
Ecuador
Bolivia
Brazil
Chile
Colombia
El Salvador
Jamaica
Mexico
Nicaragua
Guatemala
Guyana
Haiti
Honduras
Panama
Uruguay
Venezuela
Barbados
Paraguay
Peru
Suriname
|
| Data notes |
What does Non-Core CPI measure?It measures the consumer-price component made up of all items excluded from the core CPI — typically the most volatile categories such as food and energy plus regulated and seasonal prices. How many countries and which frequencies and period are covered?The indicator covers 3 countries across Latin America and the Caribbean at annual, monthly and quarterly frequency, spanning 1990 to 2026. What units and transformations are available?Values are published as an index and as an index rebased to 2023 = 100, in average-of-period and end-of-period forms and year-to-date (YTD), with month-on-month (MoM %), quarter-on-quarter (QoQ %) and year-on-year (YoY %) transformations. Where does the data come from?Data are compiled from INEGI - Mexico and the Instituto Nacional de Estadística e Informática de Perú, with internal calculations based on INDEC - Argentina, where the non-core index is derived residually rather than published officially. What are typical uses of this indicator?It is used to separate transitory price movements from underlying inflation, monitor the pass-through of food, energy and regulated-price shocks, and support monetary-policy and inflation-forecasting analysis. How do I cite this indicator?Cite as: Inter-American Development Bank (IDB), Latin Macro Watch — "Non-Core CPI". data.iadb.org/dataset/latin-macro-watch-dataset. |