Harmonized Index of Consumer Prices

(redirected from HICP)
Also found in: Acronyms.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
"By differentiating those with HICP, a condition that is associated with higher levels of anxiety, depression, fatigue, and cognitive difficulty, we hope to improve clinical research and practice," notes coauthor M.
In order to analyze the effect of the euro area transition, this paper uses the data available on Eurostat database [15] on the Harmonized Indices of Consumer Prices (HICP) with all its sectors.
Price indices for basic HICP aggregates are made using one of two formulas included in section 1 of attachment II of the above Regulation or using a comparable formula which leads to the index not differing regularly by more than a tenth of percentage point compared to previous year from the index calculated on the basis of one of two formulas (Wynne, 2002, p.
Figure 1 shows the evolution of average annual inflation in Lithuania measured by HICP for each month compared to required rate for Maastricht criterion in period 2007-2009.
(5) Nevertheless, according to a recent debate, the core inflation is no longer represented solely by the Consumer Price Index (CPI) or by the HICP, from which energy and unprocessed food have been excluded, but rather by other indices using diverse techniques, with a statistical approach instead of the behavioural approach linked to the cost of living (Wynne 2008, Vega and Wynne 2001).
One of the key topics under discussion in Europe is whether and how to include costs associated with owner-occupied housing (OOH) in the harmonized index of consumer prices (HICP).
The new table, "Harmonized index of consumer prices for selected countries and areas, percent change from same period of previous year, 2003-06," uses the methods of the European Union's Harmonized Index of Consumer Prices (HICP) to compare inflation rates of all G7 countries except Canada?
The report added that the enhanced HICP initiative cut the debt ratio in half for 18 countries, but in eight of the countries in Africa the ratios have come to exceed, once again, the HIPC thresholds.
The introduction of the Harmonised Index of Consumer Prices (HICP) brings the UK into line with the eurozone, which already uses the inflation measure.
The Chancellor is widely expected to announce the scrapping of the traditional Retail Prices Index (RPIX) in favour of the Harmonised Index of Consumer Price (HICP) which is used throughout Europe.
The Harmonised Index of Consumer Prices (HICP), which is due to be adopted by the Bank of England for its new inflation target, remained unchanged at 1.4 per cent in October against the previous month.
The EU Harmonised Index of Consumer Prices (HICP) was unchanged in the month, compared to a rise of 0.4 per cent in October last year - as a result the annual rate of inflation, as measured by the HICP, fell to 3.3 per cent.