Harmonised index of consumer prices / HICP

Sources
Dernière mise à jour le : 15/02/2017

Présentation de l'opération

Organisme producteur :

Insee. Direction des statistiques démographiques et sociales (DSDS)

Type d'opération :

Prices Index

Objectifs :

The harmonised index consumer prices (HICP) is the indicator used to assess compliance with the convergence criterion on price stability established in the European Union Treaty (Maastricht).

It was designed expressly for purposes of international comparison. The HICP has not replaced the national index, which remains the reference index used to analyse inflation in France, along with the core inflation index.

Champ de l'opération

Champ géographique :

Metropolitan France and overseas departments

Caractéristiques techniques

Période et mode de collecte :

The HICP is based on the data collected to calculate the CPI. Each Member State supplies indices that are used to calculate sub-indices compatible with COICOP/HICP (classification of individual consumption by purpose, adapted to the needs of the calculation of the harmonised consumer price indices).

The HICP are based on samples that are used to obtain reliable and comparable results, bearing in mind the national diversity of products and prices, as well as changes to retail outlets and products.

As the relative level of consumer expenditure for each good or service varies from country to country, there is no "uniform basket" applicable to all the member States.

Historique :

At the request of Eurostat, statistical institutes have supplied harmonised consumer price indices since 1996. Initially, the methods used by the 15 member states of the European Community to calculate their national price indices were distinctly different.

Bearing in mind the need to determine a threshold as important as inflation in the Economic and Monetary Union, they therefore could not be used to adequately compare inflation in these countries.

This is why the harmonised consumer price indices are is calculated using methods and content that ensure improved comparability.

In February 1996, INSEE published an interim consumer price index with a common scope for the 15 member countries, which was replaced in March 1997 by a harmonised price index, known as the HICP, with a common scope and methods.

This index, which began in January 1996, has been calculated since January 2016 with a base of 100 in 2015.

Autres spécifications :

The harmonised consumer price indices (HICP) have not replaced the national CPIs. They are intended for international comparisons and calculation of a price indices for the European Union.

The creation of the Monetary Union reinforced the role of the HICP, the principal instrument used to guide monetary policy in the eurozone.

In the case of France, the CPI and HICP follow quite similar trends, reflecting their methodological similarity. However, the CPI and HICP do not have the same scope: the HICP's scope covers final household consumption monetary expenditure.

The HICP monitors the "net" prices of administrative reimbursements, whereas the CPI monitors the "gross" prices, which are representative of the purchase price of the products consumed.

The indexes and weightings calculated are therefore different in the sectors where cost coverage by the national authorities is high (health, social welfare services).