Reference metadata describe statistical concepts and methodologies used for the collection and generation of data. They provide information on data quality and, since they are strongly content-oriented, assist users in interpreting the data. Reference metadata, unlike structural metadata, can be decoupled from the data.
The Harmonised Index of Consumer Prices (HICP) gives comparable measures of inflation for the countries and country groups for which it is produced. It is a macroeconomic indicator that measures the change over time of the prices of consumer goods and services acquired by households. In other words, it is a set of consumer price indices (CPIs) calculated according to a harmonised approach and definitions as laid down in Regulations and Recommendations.
In addition, the HICP provides the official measure of consumer price inflation in the euro area monetary policy purposes and the assessment of inflation convergence as required under the Maastricht criteria for accession to the euro.
The HICP is available for all EU Member States, Iceland, Norway and Switzerland. Liechtenstein does not produce HICP.
In addition to the country series there are three country-groups:
The EEA country-group covers Iceland and Norway, in addition to the EU members.
The official indices for the country-groups reflect the changing country composition of the EA, the EU and the EEA.
The HICP for new Member States is chained into the aggregate indices at the time of accession. For analytical purposes Eurostat also computes country-group indices with stable country composition over time (for example, EA21; EU27).
HICP for Albania, Georgia, Montenegro, North Macedonia, Serbia, Türkiye (enlargement countries), as well as Kosovo (*) are also published. Comparability of their data might differ, given that these countries are in process of aligning their practices to the EU acquis and that the conformity with the HICP methodological requirements has not been fully evaluated by Eurostat.
A proxy-HICP for the all-items index is also available for the USA.
National HICPs are produced by National Statistical Institutes (NSIs), while European aggregates (EU, EA and EEA) are produced by Eurostat.
The data are released monthly in Eurostat's database and include price indices and rates of change (monthly, annual and 12-month moving average changes). In addition to the headline total (formerly called 'all-items HICP'), over 500 sub-indices for different goods and services and over 30 special aggregates are available, including the HICP at administered prices (HICP-AP).
Every year, with the release of the January data, weights for all the indices and the special aggregates (item weights) as well as the individual countries' weight within the country-groups (country weights) are published.
The composition of the HICP for administered prices (HICP-AP), showing which sub-indices have prices that are set or affected by decisions of government bodies in each country, is updated at the same time. More information on HICP-AP can be found under the Specific topics on the web page: Information on data - Harmonised Indices of Consumer Prices (HICP) - Eurostat (europa.eu) (#HICP - administered prices).
Eurostat publishes early estimates, called 'flash estimate', of the euro area overall inflation and its selected components. These are published monthly, usually on the last working day of the reference month or shortly thereafter.
The HICP at constant tax rates (HICP-CT) is also published every month and follows the same principles as the HICP, but with prices that include tax rates based in December of the previous year. The comparison with the standard HICP can show the potential impact of changes in taxes on products, such as value-added tax (VAT) and excise duties, on the overall inflation. More information can be found in the statistics explained article HICP at constant tax rates - Statistics Explained - Eurostat.
Flags used in the Eurostat online database provide information about the status of the data or a specific data value. The list of used flags can be found in the web page Database - Eurostat (europa.eu), above the tree, through the 'i' box 'information on the database' and then 'Flags and special values' topic.
(*) Kosovo*: This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the International Court of Justice (ICJ) Opinion on the Kosovo declaration of independence.
3.2. Classification system
The HICP uses the European Classification of Individual Consumption according to Purpose (ECOICOP).
As established in EU regulation 2024/3159, starting with the publication of the January 2026 data, a revised classification (ECOICOP version 2), identical to the United Nations 2018 classification down to the 5 digit level, is applied for the full series.
Product categories
The main categories of products are split into 13 Divisions in ECOICOP version 2, against 12 in the previous ECOICOP. All versions of the ECOICOP, including a correspondence table between ECOICOP and ECOICOP version 2, can be found on the classifications server ShowVoc.
Products not covered
The HICP does not cover any products that are not part of household final monetary consumer expenditure. Moreover, some expenditure categories are excluded due to operational difficulties related to price data collection or because no harmonised method of treatment exists yet.
The following ECOICOP categories are not covered by the HICP:
Included in the HICP under division 09 'Recreation, sport and culture, group 9.4 'Recreational services', class 09.4.7 'Games of chance'.
Life insurance, now classified under 12.1.1.0 'Life and accident insurance’, continues to be excluded. Data and weights for that subclass should be read as measuring only accident insurance. Similarly, public insurance connected with health is not measured within the subclass 12.1.2.0 ‘Insurance connected with health’.
The countries are legally obliged to produce an index for all categories of ECOICOP for which the consumption is above 0.1% of the total household final monetary consumption expenditure in the country. For these categories, the national statistical institutes select their own ‘national basket’ of representative products of goods and services.
Special aggregates
Eurostat produces special aggregates that are derived from a selection of sub-indices, such as food, services or energy. For example, the special aggregate 'Energy' includes all the energy related sub-indices; most of them from division ‘04 Housing, water, electricity, gas and other fuels’, but also 'Fuels and lubricants for personal transport equipment' from division '07. Transport’. Currently, Eurostat publishes over 30 special aggregates.
The following are the four main special aggregates of the all-items HICP:
Food, alcohol and tobacco
Energy
Non-energy industrial goods
Services
The special aggregates as well as the HICP-AP and the HICP-CT are calculated starting from the ECOICOP 5-digit level from the index for January 2017. This remains unchanged with the entry into force of ECOICOP version 2.
Time series
The data using the ECOICOP classification (1996-2025) is available in dissemination in Eurostat database and frozen unless error corrections are needed.
The HICP is a consumer price index, that is, it covers the consumption expenditures of the household sector.
3.4. Statistical concepts and definitions
From 2026, the base year 2025=100 together with a new the classification ECOICOP version 2 comes into force.
3.5. Statistical unit
Each published index or rate of change refers to the 'household final monetary consumption expenditure' of the corresponding geographical entity.
3.6. Statistical population
The target universe is the 'household final monetary consumption expenditure' (HFMCE) within the economic territories of the countries compiling the HICP. The economic territory of the Member State follows the definition in paragraph 2.05 of Annex A to the European System of Accounts (ESA 2010), with the exception that the extraterritorial enclaves situated within the boundaries of the Member State are included and the territorial enclaves situated in the rest of the world are excluded. Households as referred to in points (a) and (b) of paragraph 2.119 of Annex A to ESA 2010 include all individuals or groups of individuals, irrespective of the type of area in which they live, their position in the income distribution and their nationality or residence status.
The HICP comprises all products and services purchased in monetary transactions by households, both resident and non-resident (i.e 'domestic concept'), within the territory of a country. The categories of ECOICOP listed in concept '3.2 Classification system' are excluded from the HICP coverage.
Kosovo (under United Nations Security Council Resolution 1244/99and is in line with UNSCR 1244/1999 and the International Court of Justice (ICJ) Opinion on the Kosovo declaration of independence).
USA (proxy-HICP)
3.8. Coverage - Time
The HICP is published since March 1997 and covers the time period from January 1996 onwards.
For most countries, the HICP-CT is published since 2002.
Indices are available in the ECOICOP version 2 datasets in the common index reference periods 2025=100 and 2015=100
The indices under the old ECOICOP classification, now archived, include the index reference periods 1996=100, 2005=100 and 2015=100 The categories of ECOICOP listed in section 3.2 are excluded from the HICP coverage.
Index (2025=100).
Month (indices and rates).
Year (weights, indices and rates).
Moving 12-month (rates).
6.1. Institutional Mandate - legal acts and other agreements
Legal acts
Regulation (EU) 2016/792 of the European Parliament and of the Council of 11 May 2016 on harmonised indices of consumer prices and the house price index repeals Council Regulation (EC) No 2494/95 of 23 October 1995 is the legal basis for establishing a harmonised methodology for the compilation of the HICP, the euro area and the EU inflation figures.
Commission Implementing Regulation (EU) 2020/1148 lays down the methodological and technical specifications for the HICP and HICP-CT and consolidates and modernises (and repeals) all previous implementing legislation.
Article 20(4) of Regulation (EC) No 223/2009 on European statistics stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.
Regulation (EC) No 223/2009 was last amended by Regulation (EU) 2024/3018. The consolidated version is available in The European Union legislation portal (Eur-lex).
7.2. Confidentiality - data treatment
The confidential data transmitted are used exclusively for statistical purposes and only accessible to staff working in statistical activities within their specific domain of work, according to Article 22(5) of the Regulation (EC) No 223/2009 of the European Parliament and of the Council, of 11 March 2009, on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities, as last amended by Regulation (EU) 2024/3018.
If Member States transmits data with a confidentiality flag or an embargo date, these data are not disseminated until the confidentiality flag is removed in a subsequent data transmission or the embargo expired.
See also concept 8.3 on rules governing user access.
8.1. Release calendar
The Euro indicators release schedule is publicly available and published on Eurostat's website each year, around the end of October or early November, for the full following year. Please select the indicator 'Inflation' and then 'list' to see the HICP schedule dates.
In line with the Community legal framework and the European Statistics Code of Practice (June 2018) Eurostat disseminates European statistics on Eurostat's website (see point 10 - 'Accessibility and clarity') respecting professional independence and in an objective, professional and transparent manner in which all users are treated equitably. The detailed arrangements are governed by the Eurostat protocol on impartial access to Eurostat data for users (as from July 2024).
The data are disseminated monthly, around the middle of the month that follows the reference month.
The flash estimate for the euro area and selected components are usually disseminated on the last working day of the reference month or shortly thereafter.
In principle, no intermediate data updates are done outside the pre-agreed calendar update dates (see release schedule under concept 8.2).
Eurostat is checking that the statistical practices used to compile the national HICP are compliant with the HICP methodological requirements and that good practices in the field of consumer price indices are being followed. To that end, Eurostat undertakes compliance monitoring visits to Member States during which it reviews HICP methodological issues.
Given the importance of the accuracy, reliability and comparability of the HICP, Eurostat systematically monitors the compliance of Member States against the existing legal framework, established HICP recommendations and other guidelines and good practices in the field of consumer price statistics (CPI). The compliance monitoring is based on detailed documentation, analysis of data and methods as well as visits to NSIs. Eurostat publishes the findings and follow-up reports on Eurostat's web page: Quality - Harmonised Indices of Consumer Prices (HICP).
There is continuous work to improve the HICP quality and comparability across countries, developed through the Price Statistics Working Group and its several Task Forces.
11.2. Quality management - assessment
Not assessed.
12.1. Relevance - User Needs
The euro area (EA) index is used by the European Central Bank (ECB) as the inflation target for monetary policy. The ECB and the European Commission's Directorate-General for Economic and Financial Affairs (DG ECFIN) use the HICP for assessing price stability and price convergence required for entry into the European Monetary Union (euro area). In addition to being a general measure of inflation, the HICP may also be used in the areas of:
wages, social benefits, contracts and bonds indexation
economic forecasting and analysis
measuring specific price trends
accounting purposes and deflating other series
inflation targeting by central banks
cross-country economic comparisons.
Users include National Central Banks, OECD, IMF, financial institutions, economic analysts, academia, the media and the public at large.
Note for the acronyms:
OECD (Organisation for Economic Co-operation and Development).
IMF (International Monetary Fund).
12.2. Relevance - User Satisfaction
Eurostat runs a regular user satisfaction survey for monitoring the degree to which Eurostat’s products and services fulfil their users’ expectations, for quality, trust and presentation of data and information on its website. The 2024 user satisfaction survey showed a global high satisfaction for 'Economy and finance - Price Statistics' information.
12.3. Completeness
HICP indices and weights are available since January 1996.
13.1. Accuracy - overall
The accuracy of the source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the legal framework and methodological recommendations.
All private households in the economic territory of the country are covered, both resident and non-resident, irrespective of their income.
13.2. Sampling error
The HICP is a statistical estimate that is subject to sampling errors because it is based on a sample of consumer products and household expenditures, not on the complete universe of all products and expenditures consumed by households.
The NSIs responsible for the compilation of national indices generally do not produce numerical estimates of HICP sampling errors, which are difficult to quantify due to the complexity of price index structures and the common use of non-probability sampling. Consequently, no estimate for a global HICP sampling error is available.
The NSIs try to reduce the sampling errors by using a sample of products that is as large as possible, under their resource constraints. To minimise the variance of the all-items index, the NSIs often use models that optimise the allocation of resources by indicating the number of prices that should be observed in each geographical area and each product.
Several countries have in recent years replaced sampling procedures by the use of transaction and web scraped data that provide data for the universe of transactions or products taking place within an outlet or chain of outlets. This reduces sampling error.
13.3. Non-sampling error
The HICP non-sampling errors are not quantified. Eurostat and the NSIs try to reduce non-sampling errors through continuous methodological improvements and data collection process improvements, such as electronic data transmission and the use of tablets for in-person price collection.
14.1. Timeliness
The full set of HICPs is published each month according to the Release calendar for Euro indicators - Eurostat, usually between 15 and 18 days after the end of the reference month. Each year, the January news release is published towards the end of February to allow for the annual update of the weights of individual product groups and the relative country weights of Members States in the country-group aggregates.
The euro area flash estimate is published on the last working day of the reference month or shortly after that.
14.2. Punctuality
The HICP for the euro area and the EU have always been published on the scheduled release dates.
The release schedule is agreed with NSIs around mid-September each year, for the following year.
15.1. Comparability - geographical
Definitions and classifications have been harmonised in a series of legal acts. The HICP is produced based on minimum standards that may be applied with some flexibility as long as the effect on the value of the indicator remains below 0.1 percentage point on average over one year against the previous year, according to Article 4 of Regulation 2016/792 of the European Parliament and the Council.
The continuous work carried out for the harmonisation of methodologies across the EU Member States is expected to further improve the comparability of the HICP across countries.
15.2. Comparability - over time
HICP data are considered to be comparable over time. However, due to several methodological improvements since the start of the HICP, some breaks in the time series emerge. In such cases, if the needed data are available, back calculations may be performed and historical series revised.
Potential breaks in the HICP data for January 2026 are possible as a result of the classification changes and the applied methodological change for the series compilation.
See also point 17, on revisions.
15.3. Coherence - cross domain
The HICP datasets to be used are now those compiled under the ECOICOP version 2 classification and the dataset ECOICOP1 is archived and frozen.
Identical data are shown in several data collections.
The methods and results may differ compared to national CPIs.
15.4. Coherence - internal
The HICPs are internally coherent. Higher level aggregations are derived from detailed indices according to well-defined procedures.
In practice, HICP data are rarely revised, apart from finalising provisional estimates.
See also concept ‘15.2. Comparability - over time’.
17.2. Data revision - practice
General
The HICP is published as final. Nevertheless, the HICP can be revised when errors or mistakes are found.
The HICP data are released on the publication dates, even if data is missing for certain countries, and data flagged as provisional, or of low reliability, as applicable. As set in Article 16 of Regulation 2020/1148, provisional figures are usually finalised in the following month.
All aggregates (including the European ones) and HICP components are updated for consistency with new country data. Revised data are added, overwriting the previously published figures.
The impact of major revisions is communicated with the first publication of data affected by such changes through an explanatory note in the euro indicators inflation news release and/or the HICP dedicated section on Eurostat’s website.
According to the legislation in force, countries submit to Eurostat revisions arising from mistakes as quickly as possible and those are incorporated at the next publication. Major revisions could take several months to be incorporated.
For the countries of the euro area and other countries also supplying estimates, the HICP data is released bi-monthly. Differences between the flash estimate data (flagged ‘e’) and the monthly HICP are not considered a revision.
First published data
The data as first published on the day of the HICP monthly releases are available in the 'HICP – First published data' (prc_hicp_fpd) dataset. It includes the monthly HICP indices for all countries, as well as the HICP monthly and annual rates (selectable under 'Unit of measure'). Data are available from January 2024, for the data compiled according to the ECOICOP version 2 classification and since 1996, for the data compiled according to the ECOICOP classification
Latest major revisions
With the publication of the January 2019 HICP, Germany’s methodology for package holidays changed. The previously published index for package holidays for Germany was revised back to 2015 using the new methodology. As a consequence, aggregates that include German package holidays were also revised.
The main data source for the HFMCE used for the compilation of the weights are National Accounts data (from y-2 or y-1) further complemented with data from the Household Budget Survey, sectoral statistics and other sources. The HFMCE is adjusted to exclude narcotics, imputed rentals for housing, prostitution, life insurance, FISIM, purchases abroad, and pension contributions are price updated to December of the previous year (y-1).
HICPs are based on the continuous measurement of prices for a sample of specified goods and services, in selected locations and outlets. Sampling of products, outlets and locations and data collection are carried out by the NSIs. The HICP samples are sufficiently large and representative of consumption behaviours to yield reliable and comparable results, taking into account the national diversity of products and outlets. The HICP samples are kept updated to remain representative of the target universe. To achieve that, every year, the HICP must incorporate in the sample new products that achieved a representative share of over one part per thousand of the total consumer expenditure and exclude products that dropped below that threshold.
Prices data are collected by transaction data, web scraped data, administrative data, physical shops and service providers and central collection via mail, e-mail, online.
Given that the HICP aims at measuring 'pure' price changes, it should be unaffected by changes in the quality of goods and services. Therefore, when a product needs to be replaced, prices need to be adjusted for such quality changes. For example, the features of a car model released in the current year with that of the same car model but released five years before are substantially different. Thus, to make a price comparison the ‘value’ of new features is used to adjust the prices. Differences among quality adjustment procedures in Member States and other countries using HICP could give rise to incomparability in results.
18.2. Frequency of data collection
Price collection takes place across at least once per month around one working week in mid-month. When products are known to be volatile, e.g. to show sharp and irregular price changes within the same month, prices are collected over a period of more than once per month as defined in Article 8 of Commission Implementing Regulation (EU) 2020/1148.
18.3. Data collection
HICP data, both indices and weights, are provided by the NSIs (see national reference metadata list at the top of this document.
18.4. Data validation
Data validation is done by the NSIs; additional quality and consistency checks are also carried out by Eurostat.
18.5. Data compilation
The country-group indices for the euro area, EU and EEA, as well as special aggregates are calculated by Eurostat using the HICP data provided by the countries. The computation consists of two main steps:
The change in the headline HICP and country aggregates since December (y-1) are computed with a weighted average of the HICP sub-indices transmitted by the NSIs and the weights of the countries and of the sub-indices concerned.
The resulting indices are chain-linked to the index of December (y-1) in order to provide a long term series with a common reference period.
The euro area index is compiled as a weighted average of the Member States' indices whose currency is the euro. The country weights are derived from National Accounts data for the HFMCE expressed in euros. The index is computed as an annual chain index allowing for country weights to change each year and for adding new Member States as they join the euro area (e.g. Bulgaria from 1 January). For the EU and EEA HICP indices, the euro area is treated as a single entity to which data for the other countries is then added (the weights are derived from National Accounts data, converted into purchasing power standards) and measured in per thousand. Note that for any mid-year changes in the composition, chain-linking was also added to the specific month to maintain the correct country coverage for both the EU and EEA aggregates.
18.6. Adjustment
Data are not seasonally adjusted.
Country-specific information
Links to the detailed country-specific information can be found on the box 'National Metadata' at the top of this document.
As described in concept 17.2 'Data revision - practice', in 2019, a methodological change for the package holidays data for Germany resulted in revisions on previously published data.
2019-2020
Publishing statistics after the United Kingdom leaves the EU
The Harmonised Index of Consumer Prices (HICP) gives comparable measures of inflation for the countries and country groups for which it is produced. It is a macroeconomic indicator that measures the change over time of the prices of consumer goods and services acquired by households. In other words, it is a set of consumer price indices (CPIs) calculated according to a harmonised approach and definitions as laid down in Regulations and Recommendations.
In addition, the HICP provides the official measure of consumer price inflation in the euro area monetary policy purposes and the assessment of inflation convergence as required under the Maastricht criteria for accession to the euro.
The HICP is available for all EU Member States, Iceland, Norway and Switzerland. Liechtenstein does not produce HICP.
In addition to the country series there are three country-groups:
The EEA country-group covers Iceland and Norway, in addition to the EU members.
The official indices for the country-groups reflect the changing country composition of the EA, the EU and the EEA.
The HICP for new Member States is chained into the aggregate indices at the time of accession. For analytical purposes Eurostat also computes country-group indices with stable country composition over time (for example, EA21; EU27).
HICP for Albania, Georgia, Montenegro, North Macedonia, Serbia, Türkiye (enlargement countries), as well as Kosovo (*) are also published. Comparability of their data might differ, given that these countries are in process of aligning their practices to the EU acquis and that the conformity with the HICP methodological requirements has not been fully evaluated by Eurostat.
A proxy-HICP for the all-items index is also available for the USA.
National HICPs are produced by National Statistical Institutes (NSIs), while European aggregates (EU, EA and EEA) are produced by Eurostat.
The data are released monthly in Eurostat's database and include price indices and rates of change (monthly, annual and 12-month moving average changes). In addition to the headline total (formerly called 'all-items HICP'), over 500 sub-indices for different goods and services and over 30 special aggregates are available, including the HICP at administered prices (HICP-AP).
Every year, with the release of the January data, weights for all the indices and the special aggregates (item weights) as well as the individual countries' weight within the country-groups (country weights) are published.
The composition of the HICP for administered prices (HICP-AP), showing which sub-indices have prices that are set or affected by decisions of government bodies in each country, is updated at the same time. More information on HICP-AP can be found under the Specific topics on the web page: Information on data - Harmonised Indices of Consumer Prices (HICP) - Eurostat (europa.eu) (#HICP - administered prices).
Eurostat publishes early estimates, called 'flash estimate', of the euro area overall inflation and its selected components. These are published monthly, usually on the last working day of the reference month or shortly thereafter.
The HICP at constant tax rates (HICP-CT) is also published every month and follows the same principles as the HICP, but with prices that include tax rates based in December of the previous year. The comparison with the standard HICP can show the potential impact of changes in taxes on products, such as value-added tax (VAT) and excise duties, on the overall inflation. More information can be found in the statistics explained article HICP at constant tax rates - Statistics Explained - Eurostat.
Flags used in the Eurostat online database provide information about the status of the data or a specific data value. The list of used flags can be found in the web page Database - Eurostat (europa.eu), above the tree, through the 'i' box 'information on the database' and then 'Flags and special values' topic.
(*) Kosovo*: This designation is without prejudice to positions on status, and is in line with UNSCR 1244/1999 and the International Court of Justice (ICJ) Opinion on the Kosovo declaration of independence.
4 February 2026
From 2026, the base year 2025=100 together with a new the classification ECOICOP version 2 comes into force.
Each published index or rate of change refers to the 'household final monetary consumption expenditure' of the corresponding geographical entity.
The target universe is the 'household final monetary consumption expenditure' (HFMCE) within the economic territories of the countries compiling the HICP. The economic territory of the Member State follows the definition in paragraph 2.05 of Annex A to the European System of Accounts (ESA 2010), with the exception that the extraterritorial enclaves situated within the boundaries of the Member State are included and the territorial enclaves situated in the rest of the world are excluded. Households as referred to in points (a) and (b) of paragraph 2.119 of Annex A to ESA 2010 include all individuals or groups of individuals, irrespective of the type of area in which they live, their position in the income distribution and their nationality or residence status.
The HICP comprises all products and services purchased in monetary transactions by households, both resident and non-resident (i.e 'domestic concept'), within the territory of a country. The categories of ECOICOP listed in concept '3.2 Classification system' are excluded from the HICP coverage.
Kosovo (under United Nations Security Council Resolution 1244/99and is in line with UNSCR 1244/1999 and the International Court of Justice (ICJ) Opinion on the Kosovo declaration of independence).
USA (proxy-HICP)
Month (indices and rates).
Year (weights, indices and rates).
Moving 12-month (rates).
The accuracy of the source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the legal framework and methodological recommendations.
All private households in the economic territory of the country are covered, both resident and non-resident, irrespective of their income.
Index (2025=100).
The country-group indices for the euro area, EU and EEA, as well as special aggregates are calculated by Eurostat using the HICP data provided by the countries. The computation consists of two main steps:
The change in the headline HICP and country aggregates since December (y-1) are computed with a weighted average of the HICP sub-indices transmitted by the NSIs and the weights of the countries and of the sub-indices concerned.
The resulting indices are chain-linked to the index of December (y-1) in order to provide a long term series with a common reference period.
The euro area index is compiled as a weighted average of the Member States' indices whose currency is the euro. The country weights are derived from National Accounts data for the HFMCE expressed in euros. The index is computed as an annual chain index allowing for country weights to change each year and for adding new Member States as they join the euro area (e.g. Bulgaria from 1 January). For the EU and EEA HICP indices, the euro area is treated as a single entity to which data for the other countries is then added (the weights are derived from National Accounts data, converted into purchasing power standards) and measured in per thousand. Note that for any mid-year changes in the composition, chain-linking was also added to the specific month to maintain the correct country coverage for both the EU and EEA aggregates.
The main data source for the HFMCE used for the compilation of the weights are National Accounts data (from y-2 or y-1) further complemented with data from the Household Budget Survey, sectoral statistics and other sources. The HFMCE is adjusted to exclude narcotics, imputed rentals for housing, prostitution, life insurance, FISIM, purchases abroad, and pension contributions are price updated to December of the previous year (y-1).
HICPs are based on the continuous measurement of prices for a sample of specified goods and services, in selected locations and outlets. Sampling of products, outlets and locations and data collection are carried out by the NSIs. The HICP samples are sufficiently large and representative of consumption behaviours to yield reliable and comparable results, taking into account the national diversity of products and outlets. The HICP samples are kept updated to remain representative of the target universe. To achieve that, every year, the HICP must incorporate in the sample new products that achieved a representative share of over one part per thousand of the total consumer expenditure and exclude products that dropped below that threshold.
Prices data are collected by transaction data, web scraped data, administrative data, physical shops and service providers and central collection via mail, e-mail, online.
Given that the HICP aims at measuring 'pure' price changes, it should be unaffected by changes in the quality of goods and services. Therefore, when a product needs to be replaced, prices need to be adjusted for such quality changes. For example, the features of a car model released in the current year with that of the same car model but released five years before are substantially different. Thus, to make a price comparison the ‘value’ of new features is used to adjust the prices. Differences among quality adjustment procedures in Member States and other countries using HICP could give rise to incomparability in results.
The data are disseminated monthly, around the middle of the month that follows the reference month.
The flash estimate for the euro area and selected components are usually disseminated on the last working day of the reference month or shortly thereafter.
In principle, no intermediate data updates are done outside the pre-agreed calendar update dates (see release schedule under concept 8.2).
The full set of HICPs is published each month according to the Release calendar for Euro indicators - Eurostat, usually between 15 and 18 days after the end of the reference month. Each year, the January news release is published towards the end of February to allow for the annual update of the weights of individual product groups and the relative country weights of Members States in the country-group aggregates.
The euro area flash estimate is published on the last working day of the reference month or shortly after that.
Definitions and classifications have been harmonised in a series of legal acts. The HICP is produced based on minimum standards that may be applied with some flexibility as long as the effect on the value of the indicator remains below 0.1 percentage point on average over one year against the previous year, according to Article 4 of Regulation 2016/792 of the European Parliament and the Council.
The continuous work carried out for the harmonisation of methodologies across the EU Member States is expected to further improve the comparability of the HICP across countries.
HICP data are considered to be comparable over time. However, due to several methodological improvements since the start of the HICP, some breaks in the time series emerge. In such cases, if the needed data are available, back calculations may be performed and historical series revised.
Potential breaks in the HICP data for January 2026 are possible as a result of the classification changes and the applied methodological change for the series compilation.
