1.1. Contact organisation
Statistics Norway
1.2. Contact organisation unit
Division for Price Statistics
1.3. Contact name
Restricted from publication1.4. Contact person function
Restricted from publication1.5. Contact mail address
Postboks 2633 St. Hanshaugen N-0131 Oslo
1.6. Contact email address
Restricted from publication1.7. Contact phone number
Restricted from publication1.8. Contact fax number
Restricted from publication2.1. Metadata last certified
9 August 20232.2. Metadata last posted
9 August 20232.3. Metadata last update
9 August 20233.1. Data description
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.
3.2. Classification system
European classification of individual consumption according to purpose (ECOICOP)
3.3. Coverage - sector
The HICP covers the final monetary consumption expenditure of the household sector.
3.4. Statistical concepts and definitions
The main statistical variables are price indices.
3.5. Statistical unit
The basic unit of statistical observation are prices for consumer products.
3.6. Statistical population
3.6.1. Statistical target population
The target statistical universe is the 'household final monetary consumption expenditure' (HFMCE) on the economic territory of the country by both resident and non-resident households. 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.
3.6.2. Coverage error population
Not relevant
3.7. Reference area
3.7.1. Geographical coverage
The HICP refers to the economic territory of a country as referred to in paragraph 2.05 of Annex A to ESA 2010, with the exception that the extraterritorial enclaves situated within the boundaries of a Member State or a country are included and the territorial enclaves situated in the rest of the world are excluded.
3.7.2. Coverage error regions
The economic territory of Norway (Spitsbergen and other Arctic islands are not covered).
3.8. Coverage - Time
3.8.1. Start of time series
The HICP series started in January 1997.
3.8.2. Start of time series - national specifics
The Norwegian HICP was first published on 7 March 1997 with back series going back to January 1996.
3.9. Base period
2015=100
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).
HICP is a monthly statistics.
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. Regulation (EU) 2016/792 of the European Parliament and the Council of 11 May 2016 (OJ L 135) sets the legal basis for establishing a harmonised methodology for the compilation of the HICP and the HICP-CT.
This regulation is implemented by Commission Regulation (EU) 2020/1148 of 31 July 2020.
Further documentation, can be found in Eurostat’s website - HICP dedicated section, namely recommendations on specific topics, under the methodology page, and guidelines, under the quality page.
6.2. Institutional Mandate - data sharing
None.
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.
According to the Norwegian Statistics Act of January 2021:
'Section 8. Obligation of secrecy
(1) Any person who performs or has performed work or services for Statistics Norway shall prevent third parties from gaining access to data on statistical units that have been collected for official statistics.
(2) A corresponding duty of confidentiality shall apply to any person who performs or has performed work or services for a different public authority which is responsible for the development, production or dissemination of official statistics, when this concerns data that have been exclusively collected for such purposes.
(3) The obligation of secrecy does not prevent data from being given to other authorities when such access follows from an obligation to produce statistics pursuant to the EEA Agreement.
(4) The obligation of secrecy in relation to data on personal matters will lapse after 100 years. The obligation of secrecy in relation to other data will lapse after 60 years. In some cases, Statistics Norway may make an exception from the first and second sentences if there are special grounds for such.
(5) Sections 13 to 13 e of the Public Administration Act do not apply to data that are collected for official statistics.'
7.2. Confidentiality - data treatment
According to policy rules (see point 7.1).
In line with the Community legal framework and the European Statistics Code of Practice 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 Protocol on impartial access to Eurostat data for users.
8.1. Release calendar
The HICP is released according to Eurostat’s Release calendar.
The calendar is publically available and published at the end of the year for the full following year.
8.2. Release calendar access
For national release: Advanced release calendar
Eurostat website: HICP Release calendar
8.3. Release policy - user access
Statistics Norway disseminates HICP on Statistics Norway's website in a manner in which all users are treated equally.
Monthly
Link to the StatBank where the HICP is disseminated at 8 AM at the 10th of each month, or the closest working day. Through the StatBank one can download the published numbers in several different formats, incl. the usual provided by the office platform.
APIs (Application Programming Interfaces) are available, se more information in this web page: Public APIs - Statistics Norway (ssb.no).
Statistics Norway does not publish flash estimates.
The total production process is documented in work instructions. Metadata is available on the website. Different methodological changes are also documented in separate reports on the websites. Information about compilation of the HICP are found in 'About the statistics' on the web page Harmonized index of consumer prices - Statistics Norway (ssb.no), however most of the extra documentation is in Norwegian.
10.1. Dissemination format - News release
10.2. Dissemination format - Publications
All-items HICP including 2-digit and most 3-digit ECOICOP levels, is available and released on the 10th of every month on the internet. Data are also transmitted to Eurostat well in advance of their release schedule.
10.3. Dissemination format - online database
National database: StatBank.
10.4. Dissemination format - microdata access
Microdata access for researchers may be granted subject to specific restrictions. Step by step procedure for application is described on the web page: Access to data from Statistics Norway (ssb.no)
10.5. Dissemination format - other
See also Eurostat's HICP section website.
10.6. Documentation on methodology
The HICP Methodological Manual provides the reference methodology for the production of HICP. (https://ec.europa.eu/eurostat/web/products-manuals-and-guidelines/-/KS-GQ-17-015)
10.6.1. Documentation on methodology - national specifics
'About the statistics' which is a description of the methodology and sources used to compile the HICP are published on the Statistics Norway website, together with the monthly releases.
- CPI: Konsumprisindeksen (ssb.no) (in Norwegian); Consumer price index - Statistics Norway (ssb.no) (in English)
- HICP: Harmonisert konsumprisindeks (ssb.no) (in Norwegian) / Harmonized index of consumer prices - Statistics Norway (ssb.no) (in English)
10.7. Quality management - documentation
No external quality reports
The HICP follows the quality structure of the European Statistical System. There is a strong focus on quality control covering all aspect of the production process. It is a continuous focus on quality improvements, making processes as efficient as possible and indices of the highest quality possible. In 2014 the HICP/CPI went through a LEAN review. Data at all level is controlled and consistency checks are made. All work procedures are well documented and all personnel is well trained.
11.1. Quality assurance
11.1.1. Quality management - Compliance Monitoring
11.1.2. Quality assurance - national specifics
The general quality assurance framework used in Statistics Norway is based on the European Statistics Code of Practice (CoP) as a framework, with the supporting Quality Assurance Framework (QAF), supplemented with some principles from general quality management systems based on Total Quality Management (TQM) and Lean (such as continuous improvement and participation by all). Compliance with the CoP is assured by internal quality reviews including self-assessments. Process mapping is a central technique in this context. We also have a system of risk management. Internal quality reviews have not comprised CPI recently since much improvement work has been done earlier in this area. But the risks of errors have been assessed for some important statistics including CPI, concluding that we are in good control.
The HICP regulations and recommendations are frequently looked into as advisory resources while evaluating the HICP sub-indices, hence the compliance aspect is addressed. In addition monthly and annual routines are in place to ensure comparability and quality.
11.2. Quality management - assessment
11.2.1. Compliance monitoring - last report and main results
Not available.
11.2.2. Quality assessment - national specifics
The Norwegian HICP follows the methodology implemented by Eurostat through legislative acts implemented in the EEA agreement.
12.1. Relevance - User Needs
In addition to being a general measure of inflation, the HICP is also used in the areas of:
- wages, social benefit and contract indexation;
- economic forecasting and analysis;
- measuring specific price trends;
- accounting purposes and deflating other series;
- inflation targeting by central banks;
- cross-country economic comparisons.
The euro area (evolving composition) index is used by the European Central Bank (ECB) as the main indicator for monetary policy management. 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 European Monetary Union.
Other users include: National Central Banks, financial institutions, economic analysts, the media and the public at large.
12.1.1. User Needs - national specifics
In addition to being a general measure of inflation, the HICP is also used in the areas of:
- wages, social benefit and contract indexation;
- economic forecasting and analysis;
- measuring specific price trends;
- accounting purposes and deflating other series;
- inflation targeting by central banks;
- cross-country economic comparisons.
Other users include: National Central Banks, financial institutions, economic analysts, the media and the public at large.
12.2. Relevance - User Satisfaction
Views and opinions are collected through contact with important users (Ministries, Central Bank, Analysts etc.). When introducing important methodological changes both the Advisory committee and the general public are informed beforehand. Users can also give feedback on the websites. Statistics Norway does not calculate a user satisfactory index.
There is an advisory committee that meets about every second year. No formal influence, however they have a possibility to express their views with regards to issues concerning the CPI/HICP..
12.3. Completeness
Statistics Norway delivers the full set of HICP indices and weights and HICP-CT indices (ECOICOP 4-digit level) to Eurostat.
13.1. Accuracy - overall
The accuracy of HICP is generally considered to be high. The accuracy of source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the methodological recommendations. Several data sources for weights (National Account main source) and for prices (web questionnaires, scanner data, electronic data files, central collection via email, internet search and telephone interviews) are used. The type of survey and the price collection methods ensure sufficient coverage and timeliness.
The outlets from which prices are collected are chosen from Statistics Norway's Business Register where PPS (probability proportional to size) sampling is used.
Furthermore, Statistics Norway actively follows up an Action Plan concerning quality adjustment and sampling issues and concrete best practices that have been agreed for a range of specific goods and services.
13.2. Sampling error
The HICPs are statistical estimates that are subject to sampling errors because they are based on a sample of consumer prices and household expenditures, which are not the complete universe of all prices/expenditures. Statistics Norway has not done any calculations on sampling error in the Norwegian HICP.
13.3. Non-sampling error
For the HICPs non-sampling errors are not quantified. Statistics Norway is trying to reduce non-sampling errors through continuous methodological improvements and survey process improvements such as using scanner data, web questionnaires and refined calculation programs to reduce the number of prices typed and revised manually.
14.1. Timeliness
The full set of HICPs is published each month according to Eurostat’s Release calendar, usually between 15 and 18 days after the end of the reference month.
Each year, the January release is published at the end of February to allow for the annual update of the weights, both 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
Since the March 1997, launch of the HICP release, the HICP for the country groups aggregates has always been published on the dates announced in Eurostat’s Release calendar.
15.1. Comparability - geographical
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).
15.2. Comparability - over time
HICP data is 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.
15.3. Coherence - cross domain
Differences between the HICP and national CPI
There are some differences between the HICP and the national CPI:
- In theory the HICP is based on the domestic principle of consumption concept, while the national CPI is based on the national principle. Using National Accounts as the primary weight source makes it possible to have this distinction in the weights.
- The cost for owner-occupied housing is included in the national CPI, but not in the HICP, also life insurance is included in the national CPI, but is defined outside the scope of the HICP.
- In the HICP the weights are price updated, in the national CPI they are not.
- As of January 2011, the price reference period is December for both the HICP and the national CPI.
- As on January 2017, both the national CPI and the HICP have the same base year (2015=100).
- For 2023, the weights for the HICP and the national CPI are based on slightly different use of NA. Read more about the specifics in 18.1.1. Weights
15.4. Coherence - internal
The HICPs are internally coherent. Higher level aggregations are derived from detailed indices according to well-defined procedures.
Not available
17.1. Data revision - policy
The HICP series, including back data, is revisable under the terms set in Articles 17-20 of Commission Implementing Regulation (EU) 2020/1148.
17.1.1. Data revision - policy - national specifics
The Norwegian HICP follows Articles 17-20 of Commission Implementing Regulation (EU) 2020/1148 concerning data revision.
17.2. Data revision - practice
The HICP data can be revised, but revisions happen very seldom.
Revisions in the HICP: COICOP 0451 in January 2004, from August 2003 to December 2003.
Major changes in methodology are announced in advance, while information on minor methodological changes is provided in monthly releases.
18.1. Source data
18.1.1. Weights
Expenditure shares are derived from National accounts (NA) data for household final consumption expenditure referring to year t-2. In addition, preliminary quarterly/monthly NA data for year t-1 are used to make the data more representative for year t-1.
18.1.1.1. Compilation at elementary aggregate level
Explicit weights are used on representative item level (approximately consumption segment level). The sources of the weights on lowest level are many: scanner data, HBS, official statistics, different industry information etc. Last updated HBS goes back to 2012 and is used for approx. 30 per cent of the basket. In general, if no information is available, judgemental adjustments or equal weights are taken into account.
Below representative item level region weights are used. The country is divided into 3 different regions. The weights are based on retail turnover information. For most indices outlet weights are not used at elementary level with the exception of different service indices and some indices based on scanner data.
18.1.1.2. Compilation of sub-index weights
Following standard procedures expenditure shares were derived from National accounts (NA) data referring to t-2. In addition, preliminary NA data for t-1 were used to make the data more representative for year t-1. More specifically, preliminary monthly NA for the period 2022:01-2022:11 were used together with predicted values for 2022:12. The predicted values were based on the annual growth rate of monthly NA 2022:11 multiplied with monthly NA 2021:12.
For lower level aggregates additional data such as scanner data, other statistics, industry reports and other were used to make the data representative for 2023.
The main data source for the sub-index weights was aggregated household final monetary expenditure from annual/quarterly NA referring to year t-2 together with quarterly/monthly NA year t-1 data.
NA is used at representative item level if there are one or few representative items within each ECOICOP group (for instance; 0411 rentals). Weights are controlled and calculated each year. New weights are checked towards earlier year weights. Weights are also controlled toward other sources. If the weight falls below one per mille of total weight the item can be excluded. The weights are in general quite stable with some exceptions, and the effects of changing weights have been small in the past. NA data was introduced as main data source as a direct result of the regulation EU No 1114/2010 on Weights (repealed and replaced by Regulation 2020/1148).
In general, the NA figures (weights) are not adjusted.
The largest increase in weights are found in division 11 Restaurants and hotels and division 09 Recreation and culture. The main driver for the increase in division 11 is sub-group 11.1.1 Restaurants, cafés and the like, but also 11.1.2 Canteens and 11.2.0 Accommodation services show large increases. For division 09 the main driver for the increase is group 09.6 Package holidays and 09.4 Recreational and cultural services.
The largest decrease in weights are found in division 02 Alcoholic beverages and tobacco and 01 Food and non-alcoholic beverages. For division 02 group 02.1 Alcoholic beverages is the main driver, while for division 01 both group 01.1 Food and 01.2 Non-alcoholic beverages show larger increases.
18.1.1.3. Compilation of sub-index weights
Weights are based on preliminary t-2 and t-1 NA data. Additionally, data from the HBS is explored where the last survey was completed in 2012. The weights for 2023 is based on final and preliminary figures up until 2022.
18.1.1.4. Weights – plausibility checking
Annually we review both national account figures (weights at aggregated level) and the weights at EA level towards available comparable statistics (in house and other).
18.1.1.5. Price updating
Price updating for year t-1 to December of year t-1 is carried out for all goods and services on representative item level and aggregated up. Price updating is applied at lower level aggregates.
18.1.1.6. Compilation of total household final monetary consumption expenditure
The 2023 figures are in accordance to step 10 in the ‘Guidance on compilation of HICP weights in case of large changes in consumer expenditure’ fully based on the final estimate for the total HFMCE. Hence aggregated household final monetary expenditure from annual/quarterly NA referring to year t-2 together with quarterly/monthly NA year t-1 data. For 2023 national accounts has estimated INCOME and PENSION which are also withdrawn from the HFCE (Household Final Consumption Expenditures).
Preliminary quarterly/monthly NA for the period 2022:01-2022:11 were used together with predicted values for 2022:12. The predicted values were based on the yearly growth rate of monthly NA 2022:11.
18.1.2. Prices
The Norwegian HICP is based on a variety of data sources which reflects the way prices are collected. About 30 per cent of the prices are collected through web questionnaires. However such price collection is being replaced by other types of data collection on an increasing scale. Scanner data and other electronic formats consist of more than 30 per cent, data collected online both manually and by web scraping by the Division itself consists of less than 20 per cent. We also use computer assisted telephone interviewing/web questionnaires for collection of rents and other statistics from Statistics Norway. Web questionnaires are filled out by a representative sample of outlets. This means that outlets are instructed to report price and other price related information. In addition we reuse 'in-house' data from other areas of official statistics.
18.1.2.1. Data Source - overview
A variety of data sources such as scanner data, web questionnaire, API-files, price information retrieved online and more.
18.1.2.2. Scanner data - general information
HICP includes scanner data from supermarkets, pharmacies, gas stations, some retail stores for clothes and sport equipment. Transaction data are used to measure train tickets. In addition, list prices and actual volume data are sent from the Norwegian state monopoly of wine and spirits. List prices and actual volume figures on motor cars are also used. Statistics Norway intends to increase the use of scanner data in the coming years.
18.1.2.3. Web scraping - general information
Electricity prices (53.0) and prices for the sub-index of computer games (0.8) are web scraped from specific web sites with the use of Java and Python. Weight info in parenthesis.
18.1.3. Sampling
18.1.3.1. Sampling design: locations for survey
Norway is divided in 3 regional areas which are all covered except Spitsbergen and other Arctic islands (change from 8 to 3 regional areas in 2023).
18.1.3.2. Sampling design - outlets
The outlets are selected from Statistics Norway's Business Register according to industry and region using probability proportional to size (PPS) using turnover as measure of size.
18.1.3.3. Sampling design - newly significant goods and services
New products with a significant market share (for example: blu-ray players, tablets, smartphones) are included in the index usually but not always in connection with the base year revision. However tablets were introduced before we had expenditure shares due to the enormous popularity of the item.
In the case of cars, they are chained monthly and it is a matter of full match in each period for a new model to be introduced. Annual revision of our representative items is performed to omit discontinued or not relevant items and to include new items. This happens in accordance with a new base period. Although changes can appear mid-year, for instance in the case of bundled products like cell phones and calling plans where the phone operators changes their lay out of calling plans and we have to update our item description to make sure we do not end up with only missing prices on these items.
In 2023, the following goods and services were introduced in the HICP/CPI:
- Multiple items related to interior design,
- immersion blender,
- vegetarian dish in restaurants and
- electrical charging stations for EV.
18.2. Frequency of data collection
Price data is collected every month.
18.3. Data collection
18.3.1. Price collection surveys
The Norwegian HICP is based on a variety of data sources which reflects the way prices are collected. Prices are not collected by designated price collectors but collected directly from the outlets. About 30 per cent of the prices are currently collected through web questionnaires, however web questionnaires are replaced by other types of data collection on an increasing scale. Scanner data and other electronic formats consist of more than 30 per cent, data collected online by the Division itself consists of less than 20 per cent. We also use computer assisted telephone interviewing/web questionnaires for collection of rents and other statistics from Statistics Norway. Web Questionnaires are filled out by a representative sample of outlets online which is responsible for providing prices and other price related information.
18.3.2. Timing of price collection
Survey data are collected monthly, bimonthly, quarterly, biannually, triannual and annually.
18.4. Data validation
Data validation is performed by Statistics Norway in advance of delivering data to Eurostat. Additional quality checks are also performed by Eurostat who will ask for a final validation of data before the Eurostat publication approximately 2-5 days after the data are published nationally.
18.4.1. Data validation - price data
Data are automatically checked for obvious errors. From the time data is loaded checks are performed against previous months with respect to various criteria; missing or substantially changed data amount from specific chains, missing price observations and more.
Extreme price changes are subject to manual controls and in-/excluded accordingly.
Monthly reports on all the above mentioned automatic checks are automatically produced by our production system and stored for future reference.
18.5. Data compilation
18.5.1. Elementary price index formulae
HICP is a Laspeyres-type index.
The most used formula at elementary level is the unweighted geometric mean due to established recommendations based on the idea of substitution between different commodities. However for some services we calculate the unweighted arithmetic mean, for instance for rentals due to high substitution costs. For some services quantity information is available at elementary level through scanner data and other electronic data (for instance train tickets). Fisher index is calculated for alcoholic beverages (data from the state monopoly) and motor vehicles. Weighted arithmetic mean is also used for services. For the goods in question distinguished by relatively small price movements the effects of using different formulas are assessed to be small. For food, non-alcoholic beverages, non-food supermarket products and petrol stations a multilateral index formula is calculated, by using a GEKS index based on bilateral Törnqvist price indices
Number of decimals for:
1) Price observations - two decimals,
2) compilation and transmission of index figures and rates of change - four decimals,
3) publication of index figures and rates of change - one decimal.
18.5.2. Aggregation of different data sources
To calculate the all-items index, the elementary indices and the corresponding weights are used. A direct aggregation from lowest level and up to all-items index is used. Also the different ECOICOP levels are calculated directly from the elementary level.
18.5.3. Chaining, linking and splicing methods
Mainly short-term indices using December t-1 as a price reference period are applied. New updated baskets and weights are incorporated in January every year. The short-term index is linked to the long-term index (published series) with 2015=100. However for certain consumer groups we use more frequent chaining at elementary level like for instance monthly chaining for ECOICOP 01. All upper level aggregations are annually chained with fixed weights.
18.5.4. Quality adjustment - detailed information
Only implicit quality adjustment procedures are used.
For web questionnaire data 'direct comparison' is widely used. Some product descriptions are wide enough for small changes in the product or service to be accepted without further ado. However if the quality is assessed to be considered significant the base price of the replacement product is imputed so that the price change for the specific observation equals the average rate of change for the products within the same item category i.e. 'overall mean imputation' (= bridged overlap, when the quality difference cannot be estimated).
We also conduct 'quantity adjustment' (proportional, when the only difference is in the quantity included (package size), usually a small difference). In the situation where a well justified opinion are possible to obtain from a seller or otherwise outside expert we make use of such ('expert judgment').
For the index of new cars and indices based on scanner data the matched model approach is used.
Monthly reports are automatically produced by the production system which sets what choices are made during editing procedure.
18.5.5. Seasonal items
In general, the HICP follows the regulations on seasonal items. The strongly seasonal product groups are treated with all-seasonal estimation.
For the indices based on scanner data however, the regulation is difficult to follow as all available GTINs (also seasonal items) are used as long as their turnover is substantial. Out-of-season missing prices are imputed.
18.6. Adjustment
Not applicable.
None.
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.
The main statistical variables are price indices.
The basic unit of statistical observation are prices for consumer products.
HICP is a monthly statistics.
The accuracy of HICP is generally considered to be high. The accuracy of source data is monitored by assessing the methodological soundness of price and weight sources and the adherence to the methodological recommendations. Several data sources for weights (National Account main source) and for prices (web questionnaires, scanner data, electronic data files, central collection via email, internet search and telephone interviews) are used. The type of survey and the price collection methods ensure sufficient coverage and timeliness.
The outlets from which prices are collected are chosen from Statistics Norway's Business Register where PPS (probability proportional to size) sampling is used.
Furthermore, Statistics Norway actively follows up an Action Plan concerning quality adjustment and sampling issues and concrete best practices that have been agreed for a range of specific goods and services.
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).
Monthly
The full set of HICPs is published each month according to Eurostat’s Release calendar, usually between 15 and 18 days after the end of the reference month.
Each year, the January release is published at the end of February to allow for the annual update of the weights, both 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 is 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.