Monetary Union Index of Consumer Prices

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Monetary Union Index of Consumer Prices

The official measure of the euro's inflation. It is calculated by taking the weighted average of inflation in each country of the eurozone. The MUICP is published annually by Eurostat, the agency responsible for collecting statistics for the European Commission. Eurostat also determines the weighting each country receives. The individual data used in calculating the weighted average results in Harmonized Indices of Consumer Prices for each eurozone country, which are compiled by the European Central Bank. See also: Consumer price index.
References in periodicals archive ?
Using annual changes in the traditional MUICP to measure inflation, we first calculate the implied interest rate series according to this Taylor rule.
But since the calculation of MUICP, the EICP is calculated as the weighted average of MUICP and HICP of countries that do not belong to EMU (Denmark, Sweden, and the United Kingdom).
The new rate calculated by Eurostat, the MUICP - Monetary Union Index of Consumer Prices, is calculated as a weighted average of the Harmonised Indices of Consumer Prices (HICPs) of the 11 participating countries in Stage III of Economic and Monetary Union: Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland.