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Consumer Price Indices - Detailed Information

HICP - Harmonised index of consumer prices

Harmonised indices of consumer prices (HICP) in the European Union were built in response to the need of having comparable consumer price indices enabling us to measure the trends of inflation in EU member states as a criterion for membership of the Monetary Union. There are no expectations, however, that the HICP would substitute the national consumer price indices. Many technical aspects of HICP calculation are used in national indices anyway. For example, having one set of sampling rules for the national CPI and another for the HICP would not be cost effective. We assume that the national indices and the HICP are likely to converge in the future.

There are certain differences between the structure of the consumer basket for the Czech Republic’s national CPI and that for the HICP. The HICP weights include revenue from non-residents spending in the Czech Republic but they do not include imputed rentals. On the other hand, the national CPI weights do not include non-residents spending but they do include imputed rentals.

Starting from 2001, in compliance with the rules for candidate countries, the Czech Republic provides Eurostat with the indices of consumer prices whose calculation incorporates all methodological and computation procedures of harmonisation. According to current standards for candidate countries, the HICP is fully comparable with the HICP of other countries from the beginning of 2001.

H I C P (corresponding month of previous year = 100)


Oct 2006
Nov 2006
Dec 2006
Jan 2007
Oct 2006
Nov 2006
Dec 2006
Jan 2007
EU 25 / EU 27 *)
101,8
102,1
102,2r
102,1p
Czech Republic
100,8
101,0
101,5
101,4
Belgium
101,7
102,0
102,1
101,7
Denmark
101,4
101,8
101,7
101,8
Germany
101,1
101,5
101,4
101,8
Estonia
103,8
104,7
105,1
105,0
Greece
103,1
103,2
103,2
103,0
Cyprus
101,7
101,3
101,5
101,4
Spain
102,6
102,7
102,7
102,4
Latvia
105,6
106,3
106,8
107,1
France
101,2
101,6
101,7
101,4
Lithuania
103,7
104,4
104,5
104,0
Ireland
102,2
102,4
103,0
102,9
Hungary
106,3
106,4
106,6
108,4
Italy
101,9
102,0
102,1
101,9
Malta
101,7
100,9
100,8
101,2
Luxembourg
100,6
101,8
102,3
102,3
Poland
101,1
101,3
101,4
101,7p
Netherlands
101,3
101,6
101,7
101,0p
Slovenia
101,5
102,4
103,0
102,8
Austria
101,3
101,6
101,6
101,8p
Slovakia
103,1
103,7
103,7
102,2
Portugal
102,6
102,4
102,5
102,6
Sweden
101,2
101,5
101,4
101,6
Finland
100,9
101,3
101,2
101,3
United Kingdom
102,4
102,7
103,0
102,7
Bulgaria
.
.
.
106,9
Romania
.
.
.
104,1

* p - preliminary
r - revised
Source: Eurostat
*) to Dec 2006 EU 25, from Jan 2007 EU 27