Veuillez cliquer sur lun des titres cidessous pour obtenir plus dinformations. It replaced the retail price index rpi as the headline measure of inflation in 2003. When the performance of a central bank is measured in terms of specified price indices, which are usually compiled and disseminated by the national. The hicp aggregates for the ea, the eu and the eea are calculated by eurostat using the hicps and other inputs provided by the member states. Hicp 2015 100 annual data average index and rate of change. Hicp methodology statistics explained european commission. Rapid estimates can contribute to improving timeliness of macroeconomic variables but also to provide anticipation of. Distributed by public, unedited and unaltered, on 17 january 2019 12. Harmonised inflation europe 2019 hicp the inflation chart and table below feature an overview of the european harmonised inflation in 2019. Harmonized indices of consumer prices hicps are designed for international comparisons of consumer price inflation. Shifting determinants of health inequalities in unstable. In all member countries of the european union these indices are compiled in a similar way, so that price changes in the various countries can be compared. Eurostat publishes early estimates, called hicp flash estimates, of the euro area overall inflation rate and selected components.
According to polands central statistical office gus, the consumer price index stood at 1. The harmonised indices of consumer prices hicp measure the changes over time in the prices of consumer goods and services acquired by households. Hicp 2015 100 annual data average index and rate of. Harmonized indices of consumer prices hicps statistics. This inflation figure shows the change in price of a standard package of goods and services which german households purchase for consumption. The commission and the european central bank ecb use the hicp in their assessment of price stability in the member states under article 140 of the treaty on the functioning of the european union tfeu. Euro area changing composition hicp overall index, annual average rate of change, eurostat, neither seasonally nor working day adjusted. Active people include individuals who defined themselves as being employed, in training or studying, or fulfilling domestic tasks. The harmonised inflation rate is based upon the harmonised consumer price index hicp, published by eurostat to compare inflation in european countries. The harmonised index of consumer prices hicp is calculated according to rules specified in a series of european union regulations that were developed by eurostat in conjunction with the eu member states.
The harmonised index of consumer prices hicp is calculated according to rules specified in a series of european union regulations that were developed by the eu statistical office eurostat in conjunction with the eu member states. This paper provides an estimate of the measurement bias in the harmonised index of consumer prices hicp that the. The microcensus is the largest periodic official household survey in germany. Eurostat european union statistical office published this content on 17 january 2019 and is solely responsible for the information contained herein. Harmonised index of consumer prices hicp, european union. They are published monthly, usually on the last working day of the reference month, and disseminated in a news release, in the database and in a statistics explained article. Les tableaux relatifs a lipch comprennent les donnees suivantes, pour les 12 derniers mois. The hicp inflation series starts from 1991, but crosscountry aggregation for. Harmonized indices of consumer prices hicp fred st. Harmonised indices of consumer prices hicps are designed for international comparisons of consumer price inflation. Inflation targeting has led to a close interface between these two sets of institutions. Hicp is used for example by the european central bank for monitoring of inflation in the economic and monetary union and for the assessment of inflation convergence as required under article 121 of the treaty of amsterdam. The european hicp aggregates are calculated as the weighted average of the national hicps, using the weights of the countries and subindices concerned.
The securities mentioned on this website are not being offered, and will not be sold, within the united states or to, or for the account or benefit of, any u. This statistic shows the monthly inflation rate for hicp all items compared to the same period in the previous year in the european union 28 from january to december 2018. Annual average rate of change in harmonized indices of. Hicpct only materialises if it is compared with the hicp e. Harmonized index of consumer prices hicp, methodology. The hicp is produced by eurostat, the statistical office of the european union, together with the national statistical institutes. It measures the change over time in the prices of consumer goods and services acquired, used or paid for by euro area housholds. In november 2019, compared with october 2019, industrial producer prices rose by 0. Harmonised index of consumer prices hicp methodological manual 2018 edition. Eurostat, on behalf of the commission, undertakes an ongoing compliance monitoring programme to evaluate compliance with the hicp regulations. The hicp is calculated on the base of harmonized methodology, elaborated by eurostat. Hicp ppp producer price index household expenditure retail prices external trade external trade trade in goods trade in services trade in goods and services public finance.
A each eu27 member state,a acceding, candidate and. Eurostat taux inflation zone euro linkedin slideshare. Data is available on a monthly and annual basis, broken down by detailed consumption categories. The euro area hicp is a weighted average of price indices of member states who have adopted the euro. In february 2020 the month before covid19 containment measures began to be widely introduced by member states compared with january 2020, seasonally adjusted production in the construction sector fell by 1. Experimental hicpbased estimates of administered prices. Graph and download economic data for harmonized index of consumer prices.
A few nsis have been using supermarket scanner data for many years, and methods have emerged that provide reliable indices for supermarkets. A version of this classification coicophicp has been specially adapted for the hicp. Its main responsibilities are to provide statistical information to the institutions of the european union eu and to promote the harmonisation of statistical methods across its member states and candidates for accession as well as efta. Sample includes all individuals in the survey 16 years and older. Current harmonised inflation europe hicp inflation europe.
Annex 1 harmonized indices of consumer prices european union 1 introduction the harmonized indices of consumer prices hicps are a set of european union consumer price indices cpis calculated according to a harmonized approach and a single set of definitions. This book brings together the experience of central banks and national statistical agencies in countries that focus their monetary policy on inflation targets. The cpi came into existence in the late 1990s, and is identical to the harmonised index of consumer prices hicp which is produced for eurostat according to european regulations. Second, the onesector framework leads policymakers to focus exclusively on the level of aggregate demand rather than on its composition. The hicpbased estimates of administered prices can only be a supplementary tool for economic analysis and are not intended to replace a detailed analysis of single price changes in the hicp and their causes. For analytical purposes eurostat also computes countrygroup aggregates with stable country composition over time. The hicp expenditure weights are updated on an annual basis. All items for euro area 19 countries cp0000ez19m086nest from jan 1996 to mar 2020 about harmonized, euro area, europe, all items, cpi, price index, price, and indexes. The national institute of statistics and economic studies collects, analyses. Variation en pourcentage par rapport au mois precedent m. The harmonized indices of consumer prices hicp dedicated section provides access to a full range of hicp information. Disparities between gus and eurostat data are a result of the application of different calculation methods.
There is no doubt that rapid estimates can constitute a very useful component of the information provided by traditional sources such as of. Hicp overall index title complement euro area changing composition hicp overall index, annual rate of change, eurostat, neither seasonally nor working day adjusted unit. The hicp for the euro area is the key indicator of price stability recognised by the european central bank and the european system of central. Polands harmonised index of consumer prices hicp grew by 2. The swiss hicp is published as from 2008 according to the legislation of the eu and enhances the portfolio of economic indices available in switzerland. The european union statistics on income and living conditions and the information society survey will be integrated into the microcensus as an addition to the core programme and the labour force survey of the european union. The new version adapted the list and the composition of the hicp. This it defines as an annual hicp inflation rate of below 2% over the medium term. Consumer price inflation includes all 3 indices cpih, cpi. The rts could alternatively fix the criteria which should be taken into consideration by supervisors when fixing the cap, which could include the eurostat hicp and consideration of the coupons observed on the market for comparable institutions and instruments over the past 612 months. Thirdly, eurostat hopes that the guide will give users some insight into the complexity of using scanner data for the hicp and the issues involved. Bulgaria hicp overall index, monthly index, eurostat. Income refers to yearly household equivalised income, in euros, deflated using the harmonised index of consumer prices, base year 2015. Measuring inflation the harmonised index of consumer prices hicp in the euro area, consumer price inflation is measured by the harmonised index of consumer prices hicp.
The figures are shown as a percentage of the expenditures covered by the overall hicp. Balance of payments statistics ecb eurostat % change 5 years in export market shares measured in values balance of payments statistics eurostat % change 3 years in nominal unit labour costs national accounts eurostat % change 3 years of real effective exchange rates with hicp cpi deflators relative to 35 other industrial countries. Hicp total this table shows household expenditure weights used by the harmonised index of consumer prices hicp for the euro area and the euro area countries. Hicp allitems excluding energy and food title complement euro area changing composition hicp allitems excluding energy and food, annual rate of change. Financial integration and the construction of historical.
The harmonised index of consumer prices hicp is designed to measure inflation in a harmonised manner across member states. The harmonised index of consumer prices hicp, calculated according to the eu regulations in force, is used for the comparison of inflation between member states and as a key indicator for the monetary policy of the european central bank. Three countries greece, ireland and cyprus have more than 40% of their hicp basket in deflation, while eight more countries have had negative inflation on more than 25% of the basket. Regulation eu 2016792 of the european parliament and of the council of 11 may 2016 on harmonised indices of consumer prices and the house price index, and repealing council regulation ec no 249495 j l 5, 24. Current harmonised inflation europe hicp this page features an overview of current harmonised european inflation. Is there any data you would like to find on the portal.
Mifid iimifir luxse has adjusted its internal framework to ensure that it complies with the new mifid iimifir framework, entering into. Harmonised inflation europe 2019 hicp inflation europe 2019. The common classification for harmonized indices of consumer prices is the coicop classification of individual consumption by purpose. The harmonised inflation rate is based upon the harmonised consumer price index hicp, published by eurostat to compare inflation in. The monthly publication of changes in prices of consumer goods and services.
The hicp is compiled by eurostat and the national statistical institutes in accordance with harmonised statistical methods. Hicp practical guide for processing supermarket scanner data. Subindices published by eurostat are based on this classification. Eurostat european statistical office is a directorategeneral of the european commission located in the kirchberg quarter of luxembourg city, luxembourg. Evolving composition the evolving euro area hicp covers those eu member states whose currency was the euro during the time period to which the data relate when a country joins the euro area, the national hicp for that country is included in the euro area hicp using a chain index formula fixed composition. The new prospectus regime on 21 july 2019, the new eu prospectus regulation, along with the new luxembourg prospectus act, fully entered into force. First, to introduce the reader to some simple basic economic concepts used in financial analysis and project evaluation, and second to bring together in a new analytical framework, significant pieces of information from recently published research findings on the economics of kenaf production. Major household appliances whether electric or not and small electric household appliances for european union eu61972, eu91980, eu101985, eu121994, eu152004, eu252006, eu2720, eu28. Annual detailed data by prodcom list according to nace rev. Harmonised indices of consumer prices hicp are designed for international comparisons of consumer price inflation. First, expected utility theory has come to dominate macroeconomic modelling even though its foundations are fragile when analyzing behavior in the presence of large, oneoff macroeconomic shocks. Hicp all items annual average indices hicp all items. Consumer price indices are calculated using a chained laspeyres formula, in which the basket of products. The hicp regulations are obligatory in every eu member state.
It measures the average change over time in the prices paid by households for a basket of consumer goods and services. The harmonised index of consumer prices hicp is an indicator of inflation and price stability for the european central bank ecb. In general, the cutoff date for the statistics included in the pocket book is the day preceding the governing council of the ecbs. Harmonised index of consumer prices hicp, eu, from jan 1996 to dec 2019. In addition to the eu hicps, an additional hicp aggregate index for the european economic area eea is calculated. This annex outlines the aims and history of the hicps, summarizes the most. The hicp was created specially in order to be able to compare european inflation figures. Hicp overall index title complement bulgaria hicp overall index, monthly index, eurostat, neither seasonally nor working day adjusted unit 2015 100 dataset. They give a comparable measure of inflation as they are calculated according to harmonised definitions. Germany, belgium and austria are the only countries where less than 20% of the hicp basket is in deflation figure 2, see also table 1 at the end.
The hicp is used to compare inflation rates across the european union. Hicps are used for the assessment of the inflation convergence criterion as required under article 121 of the treaty of amsterdam and by the ecb for assessing price stability for monetary policy purposes. It gathers together in one place the explanations, reference documents and data already available on eurostats website and will be progressively extended to give further information on key projects, methods and data. The ecb defines price stability on the basis of the annual rate of change. The hicp is also used in assessing whether a country is ready to join the euro area. This inflation figure shows the change in price of a standard package of goods and services which european households purchase for consumption. Hicpeurostat the european statistical office eurostat publishes every month the results of all participating countries. It gathers together in one place the explanations, reference documents and data already available on eurostat s website and will be progressively extended to give further information on key projects, methods and data. Hicp is calculated according to uniform eurostat methodology.
The ecb uses the harmonised index of consumer prices hicp, constructed by eurostat as the basis of monetary policy decisions, and as observed in hill 2004, the aggregation involved to produce this series is temporally consistent, but not spatially consistent. The hicp harmonized index of consumer prices measures the general relative change in level of prices of goods and services used by households for final consumption in the territory of bulgaria. Hicp methodological manual european commission europa eu. Euro area changing composition hicp overall index, annual rate of change, eurostat, neither seasonally nor working day adjusted indices of consumer prices. It looks like you are visiting our website from within the u. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. The rpi as it exists today is very different from the first official consumer price index produced in 1914.
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