The annual average inflation, measured by HICP
, in the last 12 months (October 2016 - September 2017) compared to the previous 12 months (October 2015 - September 2016) was 0.
Keywords: Euro changeover, Inflation perceptions, EMU countries, Eurozone, HICP
The Conference Board adjusts official HICP
and CPI metrics to a common base year to facilitate comparison with the United States.
According to article 3 of the above regulation, the scope of HICP
covers goods and services which are offered for sale in order to satisfy direct needs of consumers in a particular economic area of a Member State.
was predicted according to difficult economic circumstances and global recession nowadays.
5) Nevertheless, according to a recent debate, the core inflation is no longer represented solely by the Consumer Price Index (CPI) or by the HICP
, from which energy and unprocessed food have been excluded, but rather by other indices using diverse techniques, with a statistical approach instead of the behavioural approach linked to the cost of living (Wynne 2008, Vega and Wynne 2001).
Prior to EMU, significant differences existed in the methodologies used to construct national price indices, and in this context, a decision was made to exclude OOH from the HICP
is an internationally comparable measure of consumer price inflation.
The report added that the enhanced HICP
initiative cut the debt ratio in half for 18 countries, but in eight of the countries in Africa the ratios have come to exceed, once again, the HIPC thresholds.
Unlike the existing Retail Prices Index, HICP
does not include housing costs and smoothes out one-off effects.
Euro-sceptics claim that a switch to HICP
, which has been the European Central Bank's inflation measure since 1999, would be part of the Government's covert plans to prepare the country for eventual entry into the single currency.
Judged on the HICP
, the UK inflation rate has been among the lowest in the European Union since the start of 2000.