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.
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See also "Annex 1: The Harmonized Indices of Consumer Prices (European Union)," in The Consumer Price Index Manual: Theory and Practice (Geneva, International Labor Office, 2004).
Topics Covered INTRODUCTION MAP OF EUROPE MACRO ECONOMIC AND POPULATION DEVELOPMENT DATA Gross Domestic Product per Country Real Private Consumption Expenditure Unemployment Rate per Country Consumer Direct Spendings Exchange Rates Harmonized Indices of Consumer Prices VAT in Europe Inhabitants per Country Population Growth, Density and Household Size Population Projections TOP RANKING OF FOOTWEAR RETAILERS FOOTWEAR RETAILERS PER COUNTRY Austria Belgium + Luxembourg Czech Republic Denmark Finland France Germany Greece Hungary Italy The Netherlands Norway Poland Portugal Spain Sweden Switzerland United Kingdom + Ireland

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