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 ?
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.
In June, the harmonised index of consumer prices (HICP) went down 0.
The EU Harmonised Index of Consumer Prices, which is used as an EU-wide comparative measure, increased by 0.
New European-style Harmonised Index of Consumer Prices adopted to replace the old Retail Price Index.
The Memorandum of Understanding confirms the prime responsibility of the Statistical Office of the European Communities (Eurostat) for general economic statistics comprising, inter alia, the harmonised index of consumer prices, data on output, production, labour markets, external trade and statistics related to the excessive deficit procedure, and the prime responsibility of the ECB for money, banking and financial markets statistics, comprising among other things balance sheets of financial institutions, interest rates, prices of financial assets and securities statistics.
The findings emerged from the Office of National Statistics' so-called Harmonised Index of Consumer Prices compiled as part of the preparations for the single European currency.
1% During the period of January -- March, the harmonised index of consumer prices (HICP) was -1.
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.
According to figures released today by Eurostat, Cyprus' Harmonised Index of Consumer Prices (HICP) declined to 0,1% from 0.
In April 2011, the harmonised index of consumer prices (HICP) rose 0.
Cyprus marked its highest Harmonised Index of Consumer Prices (HICP) in July 2012 with 3.