Level-shift adjustmentmeans multiplying the index using the new production method in the HICP and the HICP-CT, having December of year t – 1 as the price reference period, with a respective level-shift factor, starting from the first month when the new production method is introduced until the end of the calendar year’;
Level-shift factormeans a factor determined by the ratio between the price changes obtained using current and new production methods, whereby the price change is measured from a calendar year to the price reference period, respectively: Levelshift factortChIyChIDec t – 1ChINEWyChINEWDect – 1, with yt.