The Consumer Price Index has been the major index which reflects inflation. Some economies attempt to either change the composition of the baskets of goods which measure the consumer price index, or remove a few selected items from the basket to indicate lesser inflation.
The indices don't so much 'influence' inflation as they simply measure it. The broadest of these indices is the GDP Deflator -- defined at the following World Bank web site at which you also can find measures for the GDP Deflator for a number of countries. http://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG
Note that the consumer price index (CPI) -- depending upon the country -- typically measures the basket of goods and services purchased by a specifically-defined kind of household -- which might or might not fit the family or the group that you are interested in (the USA CPI, for example, includes a basket of about 200 items). The GDP Deflator, on the other hand, measures true inflation -- i.e., price changes across the entire economy. In the developed countries, one finds a wide range of specialized indexes, from wholesale price indexes to construction cost indexes. Using Google or Bing, you can usually find the agencies responsible for each of these indices in some of the countries where you might have an interest.
Dear Sir,
I agree with you that indices doesn't influence inflation. However, such manipulation might give wrong impression (low inflation) about the country. Your suggestion is using GDP deflater which also manipulable?
Dear Sir,
I agree with you that indices doesn't influence inflation. But it could give wrong estimation about the economic situation of the country.
Upananda
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