A fixed bundle of goods and services against which changes in the value of money are measured. If one has to spend more (less) to buy this quantity over time, the monetary value has obviously decreased (increased). – Logically and factually incorrect is the widely used expression “basket of goods”. This is because in German statistical terminology, and so also at the ECB, “goods” is the generic term, while “commodities” (tangible objects) and “services” are the subordinate terms. – See construction price index, goods, Harmonized Index of Consumer Prices, substitution behavior. – Cf. Deutsche Bundesbank Monthly Report of April 2008, p. 39 (goods basket with 40 goods and services).
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