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National reference metadata

Germany

Reference metadata describe statistical concepts and methodologies used for the collection and generation of data. They provide information on data quality and, since they are strongly content-oriented, assist users in interpreting the data. Reference metadata, unlike structural metadata, can be decoupled from the data.

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Harmonised index of consumer prices (HICP) (prc_hicp)

National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Federal Statistical Office of Germany (FSO)

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The harmonised index of consumer prices (HICP) is a consumer price index (CPI) that is calculated according to a harmonised approach. It measures the change over time of the prices of consumer goods and services acquired by households (inflation).

Due to the common methodology, the HICPs of the countries and European aggregates can be directly compared.

13 August 2024

The main statistical variables are price indices.

The basic unit of statistical observation are prices for consumer products.

See below.

See next points.

HICP is a monthly statistics.

As sampling is based on purposive selection, the sampling error cannot be formally calculated or estimated. To keep the unknown sampling error as low as possible, however, more than 300,000 individual prices are collected every month and a highly sophisticated stratification model is applied. Non-sampling errors are not quantified in HICP construction. Activities such as continuously improving the methodology and taking a wide range of quality assurance measures at different levels are however intended to reduce non-sampling errors to a minimum. An accuracy of 0.1 percentage points is sought for the overall HICP, while inaccuracies are larger at finer levels of detail regarding, in particular, the expenditure on products with a small importance for consumption.

The generally high accuracy of the HICP has also been confirmed by the relevant CPI analyses made during regular revisions where, in most cases, noteworthy revision differences have only been the result of methodological improvements. Mostly, changes in the CPI methodology are carried out in a corresponding manner in the HICP, too, though not at the same time. As methodological changes in the HICP are usually not accompanied by back-calculations, the discrepancies caused by changes in the methodology may be larger for the HICP than for the CPI in years of methodological change.

Discrepancies between provisional and final results have been small (a maximum of +/-0.1 percentage points to date).

The following units are used:

  • Index point;
  • Percentage change on the same period of the previous year (rates);
  • Percentage change on the previous period (rates);
  • Percentage share of the total (weights).

See next points.

See next points.

Monthly.

The full set of HICPs is published each month according to Eurostat’s Release calendar, usually between 15 and 18 days after the end of the reference month.

Each year, the January release is published at the end of February to allow for the annual update of the weights, both of individual product groups and the relative country weights of Members States in the country group aggregates.

The euro area flash estimate is published on the last working day of the reference month or shortly after that.

HICPs across Member States aim to be comparable. Any differences at all levels of detail should only reflect differences in price changes or expenditure patterns.

To this end, concepts and methods have been harmonised by means of legislation. HICPs that deviate from these concepts and methods are deemed comparable if they result in an index that is estimated to differ systematically by less than or equal to 0.1 percentage points on average over one year against the previous year (Article 4 of Council and Parliament Regulation (EU) 2016/792).

HICP comparability over time is ensured. Methodological changes or changes in the consumption and shopping habits are incorporated every year. Due to the fact that data are not recalculated for previous periods, however, the annual adjustments may lead to methodological breaks in the time series of sub-indices, which will limit HICP comparability over time. In individual cases, comparability can be achieved for specific purposes, provided the data required are in place.

In the series of the HICP-AP, there is a break in January 2015 which is due to the introduction of a new methodology of identifying administered prices (AP).

The new sample of rents was introduced from January 2015 to January 2017. This did not lead to a single break in a specific month since the introduction of the improved sample was an ongoing process. However, the implementation of the related weights for the different type of landlords and for the regions below the Laender level could lead to breaks in the series of the HICP.

To maintain comparability over time, the German HICP was revised in January 2019 from 2015 to 2018, due to the introduction of a new methodology for package holidays. Annual inflation rates in the months of 2015 are distorted due to the change in methodology. From January 2016 onwards, the annual inflation rates can be derived from indices compiled according to the same methodology.