Definition
The Harmonized Index of Consumer Prices (HICP) is a statistical indicator of consumer prices in the euro area countries, compiled using the same methodological criteria throughout the area, published by Eurostat, and used by the Governing Council of the European Central Bank to assess price stability.
Further information
The breakdown of the HICP into groups of goods and services has been established based on the harmonized classification of private consumption by purpose.
Additionally, for analytical purposes, certain special groups are calculated, such as unprocessed food, seasonal food, non-energy industrial goods, energy, services, etc.
The group of unprocessed food and energy are the components with the most volatile prices and, therefore, are excluded from the HICP to obtain the so-called core inflation or underlying inflation.
Related concepts
References
Links to data tables
Update date: January 2025
