Spot or average

← Currency

Converting a balance uses the closing rate; converting a flow uses the period average. Getting them the wrong way round is invisible in the output, because a plausible number comes out either way.

For USD, the two answers diverge most in 2003 by 11.7% of the annual average. A full year of flows converted at the closing rate instead of the average is misstated by that much, which is often more than the margin of the business doing the converting.

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Which currency a price is counted in

The warehouse holds one euro-denominated measurement, Eurostat's household electricity prices, beside GDP in dollars. The FX table is what lets the two be compared, and the comparison matters.

Price rise, 2021-S1 to 2022-S2, in EUR

25.6%

... the same rise, in USD

5.7%

The euro against the dollar, same months

-15.9%

The EU's average household electricity price, Eurostat's own figure for the 27 members, rose 25.6% in euros and 5.7% in dollars over the same eighteen months. The euro fell from 1.205 to 1.014 against the dollar while that was happening.

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