Reading data begins with knowing the terms.

An index measuring the price change of the basket of goods and services consumed by households. Inflation is usually expressed as the CPI’s change against the same month of the previous year.

The market value of final goods and services produced in a country over a given period. The headline measure of the size of an economy.

A nominal figure is measured at current prices; a real figure is expressed at constant prices with inflation removed. Comparisons across years should use real figures.

Statistical agencies updating earlier values as more complete source data arrives. A revision is not an error but a standard production step; BVAM notes revisions on the indicator page.

Statistically removing regular seasonal effects (holidays, harvests, school calendars) from a series so that consecutive periods can be compared directly.

The share of people seeking and available for work within the labour force. Those outside the labour force (students, retirees, discouraged workers) are not in the denominator — so a low rate does not always mean strong employment.