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Methodological explanation for the news release:

Consumer price index by COICOP and Retail price index

COICOP (Classification of Individual Consumption by Purpose), as an international standard, is a classification of personal consumption by purpose. This classification is used by the members of the European Union to calculate the Harmonized Index of Consumer Prices (HICP), which is used as an indicator of inflation.

The Classification of Individual Consumption by Purpose (COICOP) is an international standard that classifies expenditures of the households and non-profit institutions.

In terms of qualitative comparability of economic and social indicators between different countries (such as the consumer price index, household consumption, national accounts aggregates), there is a clear advantage to using the highest level of the COICOP structure.

Last updated: 02.11.2011


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