How is the six-month average of the IPCN calculated?

Figures as of September 2026 (STATEC); this page is rebuilt at every monthly release.

It is the arithmetic mean of the last six monthly readings of the national consumer price index (IPCN, base 1948). It smooths out jolts: an isolated price spike does not trigger a tranche on its own.

A +2.5% tranche triggers as soon as this average reaches the current due cote; each cote equals exactly 1.025 times the previous one, truncated to the cent.

As of September 2026, the average stands at 1,058.56 against a 1,064.75 threshold: 6.19 points to go, tracked continuously by the counter.

1,058.56Six-month average
1,064.75Trigger threshold
December 2026Median without measures

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