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So I have monthly indices (Consumer Price Indices for 12 months) for a given country. I want to calculate the annual average for each country in order to have an average Consumer Price Index for a given year, not month.

Do I calculate the annual average by simply summing all 12 monthly data points (i.e. monthly indices) and divide by 12; or should I be using the geometric mean here?

kjetil b halvorsen
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StatsScared
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    This may be helpful: http://stats.stackexchange.com/questions/23117/which-mean-to-use-and-when/23199#23199 – dimitriy Jan 20 '15 at 22:04

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