Harmonised index of consumer prices (HICP) (prc_hicp)

National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Statistical Office of the Republic of Slovenia — SURS

Time Dimension: 2017-A0

Data Provider: SI1

Data Flow: HICP_ESMS_A


Eurostat metadata
Reference metadata
1. Contact
2. Metadata update
3. Statistical presentation
4. Unit of measure
5. Reference Period
6. Institutional Mandate
7. Confidentiality
8. Release policy
9. Frequency of dissemination
10. Accessibility and clarity
11. Quality management
12. Relevance
13. Accuracy
14. Timeliness and punctuality
15. Coherence and comparability
16. Cost and Burden
17. Data revision
18. Statistical processing
19. Comment
Related Metadata
Annexes (including footnotes)
 



For any question on data and metadata, please contact: EUROPEAN STATISTICAL DATA SUPPORT

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1. Contact Top
1.1. Contact organisation

Statistical Office of the Republic of Slovenia — SURS

1.2. Contact organisation unit

Price Statistics 

1.5. Contact mail address

Litostrojska cesta 54
SI-1000 Ljubljana
SLOVENIA


2. Metadata update Top
2.1. Metadata last certified 13/02/2017
2.2. Metadata last posted 13/02/2017
2.3. Metadata last update 13/02/2017


3. Statistical presentation Top
3.1. Data description

Harmonised indices of consumer prices (HICP) give comparable measures of inflation for the countries and country groups they are produced. They are economic indicators that measure the change over time of the prices of consumer goods and services acquired by households. In other words, they are a set of consumer price indices (CPIs) calculated according to a harmonised approach and a single set of definitions.

3.2. Classification system

ECOICOP - European Classification of Individual Consumption by Purpose (since 2017; before COICOP/HICP - UN Classification of Individual Consumption by Purpose adapted to the needs of Harmonised Indices of Consumer Prices was used.

3.3. Coverage - sector

HICPs cover the whole household sector, more precisely the goods and services acquired by households.

3.4. Statistical concepts and definitions

The published is as follows:   

1. Monthly data:

  • Indices (HICP 2015=100, HICP: 1996=100, HICP at constant taxes 2015=100)
  • Annual rates of change
  • Monthly rates of change
  • 12-month average rate of change

2. Annual data:

  • Average index and rate of change
  • Country weights
  • Item weights
3.5. Statistical unit

Each published index or rate of change refers to the 'final monetary consumption expenditure' of the whole household sector of the corresponding geographical entity.

3.6. Statistical population

The target statistical universe is the 'household final monetary consumption expenditure' (HFMCE) within the economic territories of the countries compiling the HICP. The household sector to which the definition refers includes all individuals or groups of individuals irrespective of, in particular, the type of area in which they live, their position in the income distribution and their nationality or residence status. These definitions follow the national accounts concepts in the European System of Accounts (ESA 2010).

HICPs comprise all purchases by households within the territory of a country; by both resident and non-resident households (i.e. 'domestic concept'). HICPs cover the prices paid for goods and services in monetary transactions. The prices measured are those actually faced by consumers. The HICPs exclude interest and credit charges, regarding them as financing costs rather than consumption expenditure.

3.7. Reference area

Geographical coverage
The HICP covers the entire area of the country.

For the purpose of price collection, the country is divided into four parts (regions) within which the largest urban centres and the area around these have been deliberately selected (Ljubljana, Maribor, Koper and Novo mesto). Some prices are also collected in other places in Slovenia (e.g. services in hotels and restaurants, municipal services, kindergartens), mostly by phone and via the Internet. Small villages are excluded from the sample of locations.

3.8. Coverage - Time

HICPs for Slovenia are available since 2001 (earlier figures are estimates based on the national CPI).

3.9. Base period

The index reference period is 2015=100.


4. Unit of measure Top

The following units are used:

  • Index (actually unitless, i.e. it is the ratio of the price of the basket in a given year to the price in the base year multiplied by 100. However, the HICP can be thought of as the amount the average consumer would have to spend in a given year to buy the same basic goods and services that one would have to pay 100 monetary units for in the base period);
  • Percentage change on the same period of the previous year (rates);
  • Percentage change on the previous period (rates);
  • Percentage share of the total (weights).


5. Reference Period Top

Month.


6. Institutional Mandate Top
6.1. Institutional Mandate - legal acts and other agreements

Harmonised Indices of Consumer Prices (HICPs) are harmonised inflation figures required under the Treaty on the Functioning of the European Union.

New Framework regulation (2016/792) of 11 May 2016 (OJ L 135/11) sets the legal basis for establishing a harmonised methodology for the compilation of the HICPs, the MUICP and the EICP.
Further methodological details can be found in the HICP section on Eurostat's HICP dedicated section pages, under Metadata, Legislation and Methodology.

6.2. Institutional Mandate - data sharing

Via eDAMIS following a predetermined timetable.


7. Confidentiality Top
7.1. Confidentiality - policy

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.
National Statistics Act (OJ RS, No. 45/95 and 9/2001).

7.2. Confidentiality - data treatment

In order to protect individual's information privacy and business interests of business units, only aggregated data are published (observation units are not recognizable either directly or indirectly). Therefore, adjusted contents of the tables are in use and certain rules are applied to protect data, such as a threshold minimum number of units and the dominance.


8. Release policy Top
8.1. Release calendar

The release calendar is publicly available and published at the end of the year for the full following year.

8.2. Release calendar access

Eurostat's website.

SURS's advance release calendar is available on the website and can also be subscribed via email or RSS.

8.3. Release policy - user access

Users are informed of a data release by the release calendar. The release policy determines the dissemination of statistical data to all users at the same time.

Statistical data could be obtained on Statistical Office's web pages: Prices and Inflation, and also via mail, phone, fax and e-mail, by ordering statistical publications and by visiting the Information Centre during office hours.


9. Frequency of dissemination Top

Harmonised consumer price indices are produced and disseminated monthly.


10. Accessibility and clarity Top
10.1. Dissemination format - News release

First data are published in accordance with the release calendar as First Release at 10:30 (local time) on the day of release.

10.2. Dissemination format - Publications

The all-items HICP and detailed HICPs (for 12 main COICOP groups) are available and first released on the last working day of the month to which they relate in a special publication called 'First Release' and at the same time data are also announced at a press conference. Later, within one week, data are transmitted to Eurostat.

10.3. Dissemination format - online database

HICP database available on http://ec.europa.eu/eurostat/web/hicp/data/database.

10.4. Dissemination format - microdata access

None.

10.5. Dissemination format - other

Non applicable.

10.6. Documentation on methodology

A description of the methodology and sources used to compile the HICP are published on Statistical Office's website: www.stat.si/StatWeb/ under the Methodology tab.

10.7. Quality management - documentation

http://www.stat.si/StatWeb/en/mainnavigation/methods-and-classifications/quality-reports (Theme: Prices and Inflation, Sub-theme: Consumer Prices – Inflation).

See also Eurostat's Compliance Monitoring Report of 2016. 


11. Quality management Top
11.1. Quality assurance

Quality reports are available on: http://www.stat.si/StatWeb/en/mainnavigation/methods-and-classifications/quality-reports (Theme: Prices and Inflation, Sub-theme: Consumer Prices – Inflation).

11.2. Quality management - assessment

HICP indices are produced in compliance with HICP methodological requirements and standards. The HICP process is still being developed (key priority is the treatment of owner-occupied housing).


12. Relevance Top
12.1. Relevance - User Needs

It's a general measure of inflation in cross-country economic comparisons, used by financial institutions for monetary policy (ECB, National Bank, etc.), Eurostat, media and public as well.

12.2. Relevance - User Satisfaction

The principle users are asked about their needs, wishes and interests at the regular meetings, i.e. at the statistical advisory committee on price statistics.

12.3. Completeness

All statistics that are required by international standards are calculated. HICP covers all the groups and subgroups of the ECOICOP classification, whose share in total consumption is greater than 0.1%. Indices at the 5-digit level are produced.


13. Accuracy Top
13.1. Accuracy - overall

The goods and services selected for the basket are those of most importance to the customers; have a significant share in total consumption; best reflect the changes of prices of related products. All methodology recommendations are taken into account. Prices are collected in outlets, craftsmen, supermarkets, markets, etc., in four big cities in the country and some other cities, some of them also via the internet and by phone. They reflect the price situation for the whole country. Weights are based on the data from NA on the structure of household final consumption expenditure. The outlets from which prices are collected are chosen to represent the existing trade and service network and are based usually on the following criteria: turnover, representativeness and coverage of availability of goods and services included in HICP's basket. Private households are included irrespective of their income. The domestic concept is in force.

13.2. Sampling error

The methodology for calculating the precision of CPI/HICP is not yet completely developed.

13.3. Non-sampling error

Unit Non-Response Rate
Retail prices of selected representative products and services used to calculate CPI and HICP are monitored at selected outlets (e.g. shops, markets, craftsmen and other organisations). At the points of sale, which were selected in the sample at the beginning of the year, each month information on prices should be obtained, since the number of sales locations during the year should not be changed. Therefore, each month we have 100% response of units.

Item Non-response Rate
In the case of item non-response similar methodological limitations are valid as in the case of unit non-response. The number of prices which will be collected for the selected product at selected outlets shall be determined at the beginning of the year and generally does not change, except for retail prices of seasonal products. In the latter case, the price is only collected in those months when they are sold on the market (i.e. during the season). Out of the season, these weights are distributed to other products within selected subgroup.


14. Timeliness and punctuality Top
14.1. Timeliness

Timeliness of the First Release of the survey results is specified as the difference between the date of the first release and the end of the reference period, in our case therefore the last day of the month to which the results are related. In case of CPI and HICP the difference in most months equals 0. An exception is only the month of January when, due to transit to a new year and the methodology changes in indices related to that, data are usually published up to one week later (January 2017: T+6). First data for CPI and HICP are also final data, and are not corrected at a later stage.

14.2. Punctuality

Punctuality of the First Release
Punctuality of the release is calculated as the difference between the announced and the actual date of release. In 2016, no deviation from the announced dates occurred in any of the months.


15. Coherence and comparability Top
15.1. Comparability - geographical

HICP is calculated in every EU Member State according to the requirements from regulations prepared by Eurostat in collaboration with EU Member States. HICPs are therefore developed on the basis of a harmonised methodology, and as such they should reflect only price movements and differences in consumption of population in an individual country.

15.2. Comparability - over time

HICP data are fully comparable over time. There have been several improvements in methodology since the HICP was introduced with the aim of improving reliability and comparability of the HICP. These changes may have introduced breaks in time series. However, back calculations under the newer standards were performed when appropriate basic data were available.

15.3. Coherence - cross domain

There are no considerable differences between CPI and HICP, except that HICP is based on the domestic concept of consumption, while national CPI is based on the national concept of consumption. This difference between the two is in weights. The second difference between the two indices is in the calculation of average national prices: in case of HICP at elementary level the geometrical mean is used and in case of CPI the arithmetic mean.

15.4. Coherence - internal

HICPs are internally coherent. Higher level aggregations are derived from detailed indices according to well-defined procedures.


16. Cost and Burden Top

Not available.


17. Data revision Top
17.1. Data revision - policy

HICP series, including back data, are revisable under the terms set in Commission Regulation (EC) No 1921/2001 of 28 September 2001. The published HICP data may be revised for mistakes, new or improved information, and changes in the system of harmonised rules.

17.2. Data revision - practice

The data are final when first released and are not subject to revisions.
Major changes in methodology are announced in advance, while information on minor methodological changes is provided in methodological explanations and on Statistical Office's web page: http://www.stat.si/StatWeb/en/mainnavigation/methods-and-classifications/methodological-explanations (Theme: Prices and Inflation, Sub-theme: Consumer Prices – Inflation).


18. Statistical processing Top
18.1. Source data

Sample size (reference year 2017):
On average, about  18 000 price quotations are collected every month in about  1 450 outlets.


Nr. of price observations per month: 17 893
01 Food and non-alcoholic beverages  5 884
02 Alcoholic beverages, tobacco  372
03 Clothing and footwear  1 547
04 Housing, water, electricity, gas and other fuels  1 097
05 Furnishings, household equip. and routine maintenance of the house  2 037
06 Health  625
07 Transport  1 263
08 Communications  629
09 Recreation and culture  2 020
10 Education  106
11 Restaurants and hotels  955
12 Miscellaneous goods and services  1 358

The regulation on tariffs has been applied in case of electricity, water and gas, some telecommunication services,  car and health insurance, transport services by bus and railway, kindergarten services.

 

Number of representative items at the lowest classification level (reference year 2017)
All-items: 717
01 Food and non-alcoholic beverages 179
02 Alcoholic beverages, tobacco 22
03 Clothing and footwear 63
04 Housing, water, electricity, gas and other fuels 34
05 Furnishings, household equipment and routine maintenance of the House 83
06 Health 51
07 Transport 62
08 Communications 16
09 Recreation and culture 97
10 Education 7
11 Restaurants and hotels 34
12 Miscellaneous goods and services 69

 

Prices for 35% of all products are collected centrally (i.e. newspapers and periodicals, post and telecommunication services, package holidays, accommodation services, electricity and fuel prices, tobacco goods, prices for some medicaments and vehicles, bank services, municipal services, etc.). Furthermore scanner data are obtained from some supermarket chains (mainly covering food and non-alcoholic beverages products, alcoholic beverages, household maintenance products, personal hygiene products, pets related products etc.).

18.2. Frequency of data collection

Timing of price observation
Data on prices for representative goods and services are collected monthly, between the 1st and the 25th day of each month by full-time price collectors employed by SURS. Fruit and vegetables are priced two times per month.
For the purpose of organising the observation time in individual months and to cover the whole month, items are classified into the following related groups for which prices are observed in a certain period of the month:

  • Agricultural products (observed in the 1st and 3rd week);
  • Non-food products (between 1st and 15th of the month);
  • Food products (between 16th and 21st of the month);
  • Services (between 1st and 25th of the month;
  • Fuels (between 1st and 25th of the month).
18.3. Data collection

Outlet selection

The outlets in each location are selected on the basis of the turnover data received from trade statistics as well as from information from the business register and other sources, then the outlet sample is further augmented by price collectors’ experience and knowledge of the local market. The main criteria for selection of outlets in each locality are the coverage of the available shopping areas within each location and the representation of different types of outlets. The number of outlets sampled varies by size of locality and by the type of item being priced. Once a year, usually in November and December, the sample of outlets is reviewed and updated.

The sample covers different types of outlets from market stalls, craft undertakings, traditional shops, single-line retail shops, big shopping centres, restaurants and hotels as well as Internet shops and catalogues. Prices for fresh fruit and vegetables, fishes, flowers are collected from market stalls in addition to supermarkets and traditional shops, prices for PCs, used cars, air plane tickets and some books are collected in Internet shops, prices for package holidays are collected through catalogues, prices for some pharmaceutical products are collected through a special database and prices for profit actual rentals for housing are provided in electronic form.

More than 65% of all prices are collected in a traditional way, i.e. in the field from shops; some prices are collected centrally.

 

Techniques of products selection and specification 

The representative products to be priced are selected judgmentally at the end of every year by central price statistics staff, who also determine their specifications. Product specifications are discussed and agreed at the meetings with price collectors, who previously collect information about them. These products are selected on the basis of information obtained from detailed HBS data, retail trade statistics, price collectors’ suggestions, PPP product lists, producer’s information, market research data and other sources. 

The decision about which product exactly (reference product-offer) will be observed in a specific outlet is taken by price collectors. Price collectors are instructed to select the most adequate product available in the outlet taking into consideration its specification as well as the instructions for selecting product offers agreed in joint meetings (head office staff and price collectors) at the beginning of each year. 

The specifications for individual good/service are more or less detailed; indicating size, unit, materials, brand, and characteristics, in some cases also the quality and price levels. How tight or loose the specification will be depends also on the nature of the product. If a product has many characteristics which could have effect on its price, then the specification is more exact. There are rather detailed specifications in case of cars, technical products, medicaments, tobacco goods and some services. For some products such as food and some garments, specifications are looser.

18.4. Data validation

All collected prices are reviewed by price collectors before being sent to the central office; but initially, the first phase of control is incorporated in the tablet computer program for data entry and in the end all data are manually checked by a person in the unit. If there are doubts about the reliability of one or several prices, these prices are checked once again by contacting price collectors or, if necessary, checked directly in the field. There is no automatic rejection of observed prices in our validation process. Each case (problematic price) is considered individually and all modifications are done on the basis of relevant information. In addition, each collector's work is checked in the field 1-2 times per year to ensure that central office guidelines are being followed.

18.5. Data compilation

Weights
Weights for calculating the index in a certain year are based on the data from National Accounts (i.e. structure of households final consumption expenditure adjusted to exclude non-monetary transactions) and are net of both business and domestic expenditures. These data are also supplemented and verified with other statistical and non-statistical sources. NA data are the source for determining weights for 2 and 3 digit COICOP levels, while for lower levels mainly information from HBS is used.
Weights are changed every year. The present weights are based on the NA data for 2015 and prices updated to December t-1. The review of critical weights is also a part of the ongoing annual review of weights.
Computation of the lowest-level indices
The price indices for elementary aggregates are calculated as a ratio of geometric mean prices.

Treatment of missing items and replacements
When a non-seasonal item is temporarily missing in a given outlet, the last recorded price is retained for one month, exceptionally up to two months, but usually at the same time the price for its substitute is observed. When it is clear that a non-seasonal item is missing permanently (in the third month or earlier), the item is substituted with the most comparable one in the same outlet or its price is extrapolated by price change of the same or similar item in another outlet(s). 

Introduction of newly significant goods and services
The process of identifying new goods and services is done continuously throughout the year, existing products are reviewed for their continued relevance and research is undertaken to identify new goods and services. The basket of goods and services, including newly significant goods and services, is updated at the end of each year. For identifying new and newly significant goods and services, different sources of information are used, e.g. detailed HBS, PPP survey and particularly suggestions from price collectors based on their knowledge of what is being actually sold in the market places.

Treatment of price reductions
Seasonal sales, other sales prices and reduced prices (e.g. special offers, discounts, etc.) are included in the index when they are available to all potential consumers with no special condition attached. 

Treatment of seasonal items
In January 2011 changes in monitoring the prices of seasonal products were introduced. The methodology for monitoring the prices of seasonal products and calculating their indices was brought in line with the Regulation concerning minimum standards for the treatment of seasonal products in the Harmonised Indices of Consumer Prices, which came into force in January 2011. From January 2011 on seasonal products in our case include the following subgroups of goods and services; fresh fruit, fresh vegetables, women's clothing, footwear, household appliances, sports equipment and recreational services. Since January 2017 package holidays have also been included in seasonal products.

18.6. Adjustment

Adjustment for quality differences
During a year, price adjustments due to quality changes are most frequently made for cars, PCs, major household appliances, clothing, and technical products. The following methods are used:

  • Explicit methods
    Direct price comparison: e.g. clothing — as required
    Option pricing: new cars — as required
    Judgmental QA: e.g. clothing, cars — as required
    Package size adjustment: e.g. food and medicaments
    Mixed approaches: — as required

  •  Implicit methods
    Overlap: e.g. audio visual goods — as required
    Bridge overlap: e.g. PCs, technical products, household appliances — as required.


19. Comment Top

None.


Related metadata Top


Annexes Top