Harmonised indices of consumer prices
The Harmonised Index of Consumer Prices (HICP) is an index used throughout Europe to measure the development of consumer prices.
It is calculated in the individual EU countries as well as in Iceland, Norway and Switzerland using harmonised concepts, methods and procedures. Eurostat, the Statistical Office of the European Union, then amalgamates the national HICPs to create a composite index for the euro area or the European Union.
The Eurosystem uses the HICP to gauge price developments and as a measure of price stability in the euro area.