Harmonized Index of Consumer Prices

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Harmonized Index of Consumer Prices

A measure of inflation used by the European Central Bank that considers what people spend on important goods and services. It is calculated by taking the average of changes in price to a basket of goods and services compiled by EU member states. The goods and services in the basket are weighted according to their perceived importance. The HICP is considered a primary tool in determining how people are experiencing inflation. The European Central Bank attempts to keep inflation as measured by the HICP a little bit below 2% in the medium term.
References in periodicals archive ?
Figure 11: Harmonised Index of Consumer Prices - growth of other 17 EU countries (3.
Statistics Denmark wants a monthly collection of retail prices for calculation of consumer prices and net retail price index and the Harmonised Index of Consumer Prices.
There was also a fall in the Harmonised Index of Consumer Prices (HICP), which Chancellor Gordon Brown said last week he wanted to adopt for the Bank of England's new inflation target.
The German Harmonised Index of Consumer Prices (YoY) on the other hand decreased for December, falling to 1.
An alternative measure of inflation, based on Europe's harmonised index of consumer prices (HICP) favoured by the ECB, is forecast to accelerate to 2.
Inflation, as measured by the harmonised index of consumer prices, slowed to 2.
The Chancellor confirmed that the Government was switching to the euro-zone measure of inflation - the harmonised index of consumer prices (HICP).
The Government has recently announced its intention to redefine the inflation target in terms of the Harmonised Index of Consumer Prices (HICP), the measure monitored by the European Central Bank (ECB), in the next Pre-Budget Report.
But Chancellor of the Exchequer Gordon Brown said in last month's Budget he might use the Harmonised Index of Consumer Prices as a guide instead.
This week, the eurozone is anticipating the German Consumer Price Index and Harmonised Index of Consumer Prices on November 12th, the preliminary GDPs of Germany and the eurozone on November 14th and the eurozone Consumer Price Index for October on November 15th.
Using the Harmonised Index of Consumer Prices, the ECB's inflation yardstick, the rate of inflation in Germany was also unchanged at 2.
The Harmonised Index of Consumer Prices, which is due to be adopted by the Bank of England for its new inflation target next month, remained unchanged at 1.