Harmonised Index of Consumer Prices (HICP) provides a common measurement of inflation
that facilitates carrying out international comparisons. It is obtained as a result
of homogenising the most significant methodological aspects of each one of the
Consumer Price Indices from each one of the member states of the European Union
(EU) to make them comparable.
The HICP of each country covers the divisions
that exceed one per thousand of the total expense of the national shopping basket.
Differences between the HICP and the CPI
the weighting of some categories are not totally included in the HICP. This occurs
with insurance for which only costs linked to net premiums are considered
or cars from which costs corresponding to sales between consumers are eliminated.
As a result of these exclusions, the total weighting eliminated from the Spanish
CPI structure is around 2.8%.
On the other hand, the HICP covers the consumption
expenses that all households make in each EU member state. The adaptation of the
HICP to this criteria with the national CPI implies that expenses from visiting
foreigners must be included as well as those that residents in group households
incur and exclude the costs made by Spaniards outside the country. As a result
of this change in the coverage of the population, the total added weighting with
respect to the Spanish CPI structure is around 7%.
groups and weightings
The weightings of the 12 HICP groups and their comparison with
the 12 CPI Spain groups for 2017 are:
||HICP Weighting (%)
||CPI Weighting (%)
||Food and non-alcoholic beverages
||Alcoholic beverages and tobacco
||Clothing and footwear
||Furniture and Household Equipment
||Recreation and culture
||Hotels, Cafes and Restaurants