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Estonia

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.

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Harmonised index of consumer prices (HICP) (prc_hicp)

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National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Statistics Estonia

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The harmonised index of consumer prices (HICP) is a consumer price index (CPI) that is calculated according to a harmonised approach. It measures the change over time of the prices of consumer goods and services acquired by households (inflation).

Due to the common methodology, the HICPs of the countries and European aggregates can be directly compared.

7 September 2025

The main statistical variables are price indices.

The basic unit of statistical observation are prices for consumer products.

See the information under the next points.

See the information under the next point.

HICP is a monthly statistics.

The accuracy of source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the methodological recommendations. The accuracy of HICP is generally considered to be high.

The following units are used:

  • Index point
  • Percentage change on the same period of the previous year (rates)
  • Percentage change on the previous period (rates)
  • Percentage share of the total (weights).

The Estonian HICP is a Laspeyres-type index. Ratio of arithmetic mean prices is used for computation of lowest level indices. Choice of the formula is historical.

 The number of decimals that we apply for:

  • Price observations - two decimals for product-offer.
  • Weights - unrounded.
  • The compilation and transmission of index figures and rates of change - unrounded.
  • For publication of index figures and rates of change - two decimals for indices and one decimal for rate of change.

See information under the next points.

Monthly.

The full set of HICPs is published each month according to a pre-announced schedule, usually between 15 and 18 days after the end of the reference month. Each year, the January news release is published at 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.

HICPs across Member States aim to be comparable. Any differences at all levels of detail should only reflect differences in price changes or expenditure patterns.

To this end, concepts and methods have been harmonised by means of legislation. HICPs that deviate from these concepts and methods are deemed comparable if they result in an index that is estimated to differ systematically by less than or equal to 0.1 percentage points on average over one year against the previous year (Article 4 of Council and Parliament Regulation (EU) 2016/792).

HICP data considered to be comparable over time. There have been several improvements in methodology since 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 are performed when appropriate basic data is available.