Samara Asset Group's BTCCPI shows the eurozone consumer basket got much cheaper in Bitcoin terms, even as official euro inflation rose to 3.8%
The eurozone’s consumer basket got a lot cheaper in September, provided you were paying in Bitcoin.
The Bitcoin Consumer Price Index (BTCCPI), built by Samara Asset Group, fell 18.90% month over month. That means the same basket of goods and services took meaningfully less Bitcoin to buy than it did a month earlier.
What the BTCCPI actually measures
Think of the BTCCPI as a price tag translated into another language. It takes the same shopping cart that European statisticians use to track inflation and asks one question: what does this cost in Bitcoin?
Under the hood, Samara Asset Group uses the same fixed basket as the official Harmonised Index of Consumer Prices (HICP). The difference is the unit of account. Instead of euros, every item is priced in BTC, using BTC/EUR exchange rates sourced from Yahoo Finance.
The index covers Bitcoin only. No other tokens or crypto assets are part of the calculation.
September versus the month before
The 18.90% drop is a sharp reversal from the prior reading. Before the September report, the most recent BTCCPI print showed a 7.36% month-on-month increase, meaning the basket had become more expensive in Bitcoin terms.
On a year-on-year basis, that earlier reading stood at -13.37%. Over twelve months, then, Bitcoin holders were already ahead of the basket before September’s move.
Meanwhile, in euro land
Eurozone HICP inflation reached 3.8% year on year in September, up from 3.2% in August.
Energy did much of the heavy lifting. Energy prices jumped 18.9% year on year, adding to the broader inflation pressure across the bloc.
A complement, not a replacement
Samara Asset Group frames the BTCCPI as a companion to official inflation data rather than a substitute for it. Most Europeans still earn wages, pay rent and settle bills in euros. The HICP remains the benchmark that shapes monetary policy, wage negotiations and pension adjustments.
The BTCCPI answers a narrower question. For people who hold savings in Bitcoin, or who think about wealth in Bitcoin terms, it shows how far those holdings stretch against real-world spending.
What this means for holders and the broader debate
Consider the sequence. The prior reading showed the basket getting 7.36% more expensive in Bitcoin terms in a single month. September then swung the other way by 18.90%. Over longer windows, such as the -13.37% year-on-year figure before September, Bitcoin holders have come out ahead of the basket. Over shorter windows, the ride is bumpy enough to unsettle anyone who needs predictable spending power next month.
