Consumer prices - Methodology Consumer prices - Methodology

Harmonized Indices of Consumer Prices (HICPs) are designed for international comparisons of consumer price inflation. They are used in the assessment of inflation convergence as required under Article 121 of the Treaty of Amsterdam (Article 109j of the Treaty on European Union). Council Regulation (EC) No 2494/95 of 23 October 1995 sets the legal basis for establishing a harmonized methodology for the compilation of the HICPs. All the regulations as well as further methodological details can be found following the link: Compendium of HICP reference documents.

The MUICP is used by, among others, the European Central Bank (ECB) as a main indicator for monetary policy management for the euro area; see the ECB press release.

More information on HICPs can be found in the HICPs Short Guide for Users and in the Prices metadata files.