What is the difference between CPI and HICP?
The HICP differs from the US CPI in two primary aspects. The HICP also differs from the US CPI by excluding owner-occupied housing from its scope. The US CPI calculates “rental-equivalent” costs for owner-occupied housing while the HICP considers such expenditure as investment and excludes it.
What does HICP include?
The HICP covers the expenditure of all households within a country’s economic territory. This includes expenditure by both resident and non-resident households in that territory (following the so-called “domestic concept”).
What is the Harmonised Index of consumer prices?
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods.
How does Eurostat use HICP to measure inflation?
Eurostat also publishes other analytical indices that complement the HICPs in determining the extent to which inflation is due to movements in free market prices: HICP at constant tax rates (HICP-CT) and HICP administered prices HICP administered prices (HICP-AP).
When was harmonised consumer prices Last updated in France?
France Harmonised Consumer Prices – data, historical chart, forecasts and calendar of releases – was last updated on June of 2021. Harmonised Consumer Prices in France is expected to be 107.27 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
Why does the ECB use a harmonised inflation rate?
The term “harmonised” denotes the fact that all the countries in the European Union follow the same methodology. This ensures that the data for one country can be compared with the data for another. The main task of the ECB is to maintain price stability. This it defines as an annual HICP inflation rate of below 2% over the medium term.
