What does HICP include?

The HICP covers the expenditure of all households within a country’s economic territory. This includes spending by both resident and non-resident households in that territory (following the so-called “domestic concept”).

Is CPI the same as HICP?

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 is HICP in economics?

The Harmonised Indices of Consumer Prices (HICP) measure the changes over time in the prices of consumer goods and services acquired by households. They give a comparable measure of inflation as they are calculated according to harmonised definitions.

How is HICP calculated?

The HICP is computed as ‘Laspeyres-type price index’, based on the prices of services available for purchase in the economic territory of each EU Member State for the purpose of directly satisfying consumer needs (final consumption).

What is the current HICP rate?

Owing to the pronounced price increase, annual inflation stepped up from 1.7% in January to 2.2% in February, marking the highest inflation rate since December 2008. Simultaneously, annual HICP inflation (based on the harmonised index of consumer prices) jumped to 0.9% in February from 0.2% registered in January.

What is HICP Ireland?

Ireland Harmonised 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.

What does CPI stand for?

The Consumer Price Index (CPI) is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services.

What is core HICP?

The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

What is the rate of inflation for 2021?

The annual rate of inflation worldwide, as measured by the consumer price index (CPI), accelerated to 9.2 per cent in March 2022, up from 7.5 per cent in February 2022, 6.8 per cent in January 2022 and 6.4 per cent in December 2021.

What is HIPC inflation?

Key Takeaways. The Harmonized Index of Consumer Prices (HICP) is a composite measure of inflation in the Eurozone. The HICP takes in consumer price inflation data from each member nation of the ECB and weights them accordingly into an index.

What does core inflation measure?

Core inflation, whether the CPI or the PCE price index, is defined as the change in prices excluding food and energy prices, which tend to be volatile. While food and energy are, of course, major parts of any household’s budget, core inflation is often seen as a better indicator of the underlying pace of price changes.

What does muicp stand for?

The Monetary Union Index of Consumer Prices (MUICP) is an aggregate measure of consumer inflation for all countries within the eurozone. It is published monthly by Eurostat, the statistical office of the European Union (EU). Understanding the Monetary Union Index of Consumer Prices (MUICP)

Where can I find the muicp?

It is published monthly by Eurostat, the statistical office of the European Union (EU). The Monetary Union Index of Consumer Prices (MUICP) is calculated by taking the weighted average of the Harmonized Indices of Consumer Prices (HICPs) from each country within the eurozone (also called the euro area).

What is muicp and HICP?

The main goal of the European Central Bank (ECB) is price stability, which it defines as an annual HICP rate in the euro area of 2% or less. 4  The HICP and MUICP data releases are therefore critical for the ECB in terms of how it sets monetary policy in the eurozone. MUICP is also referred to as eurozone HICP.