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 ?
Weighting constituent series based on their signal-to-noise ratio rather than on their importance in a consumer basket results in aggregate price series that behave in a rather similar fashion to the traditional headline MUICP. Are the series similar enough to assuage fears surrounding the policy implications of including house prices?
Using annual changes in the traditional MUICP to measure inflation, we first calculate the implied interest rate series according to this Taylor rule.
Moreover, the national governments, although continuing in many cases to refer to the internal measures of inflation for the preparation of their own economic policy, devote increasing attention to MUICP.
The new Eurostat rate, 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 the third and final stage of Economic and Monetary Union.
The new rates calculated by Eurostat's Monetary Union Index of Consumer Prices (MUICP) are based on a weighted average of the Harmonised Indices of Consumer Prices (HICPS) for Euro countries.
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.
The HICPs of each Member State are aggregated to an EU average, and also to an average for the 11 EMU members - the Monetary Union Index of Consumer Prices (MUICP).
The new Eurostat rate - the Monetary Union Index of Consumer Prices (MUICP) - is calculated as a weighted average of the Harmonised Indices of Consumer Prices (HICPs) in Euro countries.