1.1. Contact organisation
National Statistics Institute - INE Spain
1.2. Contact organisation unit
Directorate for Short-Term Statistics
1.3. Contact name
Restricted from publication1.4. Contact person function
Restricted from publication1.5. Contact mail address
Avenida de Manoteras 50-52 / 28050 MADRID SPAIN
1.6. Contact email address
Restricted from publication1.7. Contact phone number
Restricted from publication1.8. Contact fax number
Restricted from publication2.1. Metadata last certified
19 August 20242.2. Metadata last posted
19 August 20242.3. Metadata last update
19 August 20243.1. Data description
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.
3.2. Classification system
European classification of individual consumption according to purpose (ECOICOP)
3.3. Coverage - sector
The HICP covers the final monetary consumption expenditure of the household sector.
3.4. Statistical concepts and definitions
The main statistical variables are price indices.
3.5. Statistical unit
The basic unit of statistical observation are prices for consumer products.
3.6. Statistical population
See next points.
3.6.1. Statistical target population
The target statistical universe is the 'household final monetary consumption expenditure' (HFMCE) on the economic territory of the country by both resident and non-resident households. The household sector to which the definition refers, includes all individuals or groups of individuals irrespective of, in particular, the type of area in which they live, their position in the income distribution and their nationality or residence status. These definitions follow the national accounts concepts in the European System of Accounts.
3.6.2. Coverage error population
There are no national deviations from the target population in the Spanish HICP.
3.7. Reference area
See next points.
3.7.1. Geographical coverage
The HICP refers to the economic territory of a country as referred to in paragraph 2.05 of Annex A to ESA 2010, with the exception that the extraterritorial enclaves situated within the boundaries of a Member State or a country are included and the territorial enclaves situated in the rest of the world are excluded.
3.7.2. Coverage error regions
The Spanish HICP covers the whole national territory; no parts of the country are excluded from the index.
3.8. Coverage - Time
See next points.
3.8.1. Start of time series
The HICP series started in January 1997.
3.8.2. Start of time series - national specifics
The Spanish HICP time series start in January 1997.
3.9. Base period
2015=100.
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).
HICP is a monthly statistics.
6.1. Institutional Mandate - legal acts and other agreements
Harmonised Indices of Consumer Prices (HICPs) are harmonised inflation figures required under the Treaty on the Functioning of the European Union. Regulation (EU) 2016/792 of the European Parliament and the Council of 11 May 2016 (OJ L 135) sets the legal basis for establishing a harmonised methodology for the compilation of the HICP and the HICP-CT.
This regulation is implemented by Commission Regulation (EU) 2020/1148 of 31 July 2020.
All the HICP legislation can be found in the HICP decicated section in Eurostat's website: Legislation - Eurostat (europa.eu).
Further documentation, namely recommendations on specific topics, can be found in the Methodology page.
6.2. Institutional Mandate - data sharing
HICP data are transmitted to Eurostat monthly, in order to produce the aggregates for the European Union (EU) and euro area (EA).
7.1. Confidentiality - policy
In accordance with Law 12/1989, of 9 May, on public statistical services ('Ley de la Función Estadística Pública'), the National Statistics Office (INE) is obliged to protect the privacy of individual respondents. Neither individual nor aggregate data that may lead to identify single statistical units can be disseminated or made available by any means. The Statistical Law No. 12/1989 specifies that the INE cannot publish, or make otherwise available, individual data or statistics that would enable the identification of data for any individual person or entity.
In addition, Regulation (EC) No 223/2009 of the European Parliament and of the Council, of 11 March 2009, on European statistics stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.
The legal act Ley de la Función Pública, Chapter III on Confidentiality.
Regulation (EC) No 223/2009 of the European Parliament and of the Council, of 11 March 2009, on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities.
All HICP data below 5-digit ECOICOP level are confidential (prices, weights, item descriptions, etc.) to protect the data and prevent meddling.
7.2. Confidentiality - data treatment
The National Statistics Institute (INE) adopts the necessary measures to protect the confidentiality of the data provided by respondents throughout the whole statistical process, from the data collection to the dissemination of results.
Every questionnaire includes a disclosure statement in which respondents are informed of the purpose of the survey and the legal obligation of public statistical services to protect the confidentiality of the data provided, as they are requested only for statistical purposes.
During the data processing, all the information that may lead to identify individual respondents is preserved only while strictly necessary. This information cannot be disseminated by any means, therefore during the last stages of each survey all the results that are intended for publication are revised in depth so that the privacy of respondents is guaranteed.
Where microdata files are disseminated, these are always anonymous. However, for the HICP only aggregate data are published, which precludes the identification of microdata.
In line with the Community legal framework and the European Statistics Code of Practice Eurostat disseminates European statistics on Eurostat's website (see point 10 - 'Accessibility and clarity') respecting professional independence and in an objective, professional and transparent manner in which all users are treated equitably. The detailed arrangements are governed by the Eurostat protocol on impartial access to Eurostat data for users.
8.1. Release calendar
The HICP is released according to Eurostat’s Release calendar.
The calendar is publically available and published at the end of the year for the full following year.
8.2. Release calendar access
INEbase / INE Statistics availability calendar, including HICP/CPI release calendar.
8.3. Release policy - user access
HICP figures are disseminated in a press release and in the database on a monthly basis. The channels of dissemination for such data are the website, emails and Twitter.
The data are disseminated in Spanish and English down to 5-digit ECOICOP level.
In accordance with the European Statistics Code of Practice, 'all users have equal access to statistical releases at the same time. Any privileged pre-release access to any outside user is limited, well-justified, controlled and publicised'. As a result, some statistics (in particular the HICP) are transmitted under embargo to the appointed body, the Secretariat of State for Economic Affairs and Business Support of the Ministry of Economy and Business, some hours in advance of the official release.
Likewise, most of the Central Statistics Offices of the Autonomous Communities (OCECA) receive information on the HICP under embargo before the publication, in line with the Multilateral Working Agreement and under the protection of the relevant regulations in terms of confidentiality.
In addition, the HICP press release is transmitted under embargo to a small number of news agencies, 30 minutes prior to the official time of dissemination.
Monthly.
Both the HICP and the Flash Estimate are disseminated online, according to a pre-announced schedule.
10.1. Dissemination format - News release
The HICP data are included in the national CPI press release, in the following three sections:
- The HICP annual change is included in the heading.
- The main rates of change of the overall HICP at national level are highlighted in the text and compared to Euro area aggregates.
- There are two tables containing more detailed HICP indices and rates of change, for the 12 ECOICOP divisions and the overall HICP-CT.
There is also a special news release for the Flash Estimate, in which overall price changes are briefly explained.
10.2. Dissemination format - Publications
All the HICP and HICP-CT indices and rates of change are disseminated monthly in the HICP database of INE website, for all ECOICOP sub-indices and six special aggregates. Besides, the main HICP data are included in the press release that is regularly issued for the national CPI.
The main data are published in the homepage, together with links to the corresponding press releases and dedicated sections.
In addition, annual averages and weights are disseminated yearly.
10.3. Dissemination format - online database
10.4. Dissemination format - microdata access
No HICP microdata are disseminated or accessible for special users.
10.5. Dissemination format - other
In addition to the regular publications, a special press release is issued whenever there is an important methodological change (e.g. a new treatment for seasonal products).
10.6. Documentation on methodology
The HICP Methodological Manual provides the reference methodology for the production of HICP.
10.6.1. Documentation on methodology - national specifics
Links to INE's website:
- Link to HICP methodology section.
- Link to national HICP metadata.
- Link to national HICP methodology, base 2015.
10.7. Quality management - documentation
All the documentation on quality management is available in a dedicated section in INE website. The following documents are included:
- Quality reports and indicators
- User surveys
- Peer Review external evaluations
- Statistical dissemination policy (including the distribution of statistical results under embargo)
- Confidentiality policy
- Revision policy
Also other components of INE quality system are explained, such as the institutional structure, a letter of services and the quality assessment and management within the Administration in Spain.
See INE quality management dedicated section for further information.
European Statistics Code of Practice - 2017.
11.1. Quality assurance
See next points.
11.1.1. Quality management - Compliance Monitoring
11.1.2. Quality assurance - national specifics
In order to control the quality of the information collected, there is a plan of inspection visits to respondent establishments.
In the delegations, the inspection works correspond to the interviewer inspector, and to the survey inspector. As a basic criterion, they should visit every establishment that is providing information for the first time, as well as those that the interviewer has found to be unwilling to cooperate.
In the visits to establishments, the suitability and representativeness of the same are determined, whether the articles from which the prices are collected comply with the specifications, and whether those prices are correct. They also check the degree of cooperation of the respondents, and whether the visits of the interviewer are made in an adequate manner and on the established dates.
Likewise, there is another systematic inspection established by the Central Services of the INE, which requires the monthly inspection of a certain percentage of the establishments. The survey inspector must send a report regarding said inspection in which s/he indicates the establishments, articles and interviewers inspected, as well as the discrepancies observed.
Visits, when deemed necessary, are also made to the delegations by the technicians of the Central Services, from the CPI Area, responsible for the control of the prices collected in the delegations, in which they check the suitability of the sample selected, the mechanism of the work carried out monthly. Likewise, during these visits, all of the issues raised by the working team of the delegation are resolved, and all of the changes considered pertinent for improving the quality of the survey are proposed.
Finally, worth noting is that repeated interviews are carried out continuously via moving agents from the Central Services, to check the quality of the data obtained.
In addition, the Head of Unit is continuously monitoring the process, solving collection and editing problems, answering queries and analysing the results.
General practices are explained in the Quality management section on INE website.
11.2. Quality management - assessment
See next points.
11.2.1. Compliance monitoring - last report and main results
Eurostat’s compliance and follow-up reports for the Spanish HICP can be found in the webpage Quality - Harmonised Indices of Consumer Prices (HICP) - Eurostat (europa.eu).
11.2.2. Quality assessment - national specifics
In order to assess the quality of statistics, a set of quality indicators is regularly produced and most of them are available to users.
In particular, for the HICP the results for 2023 are the following:
- Data completeness rate R1 = 100%
- Sampling error indicator (coefficient of variation) A1 = N/A
- Over-coverage rate A2 = N/A
- Common units proportion between survey data and administrative sources A3 = N/A
- Unit non-response rate A4 = N/A
- Item non-response rate A5 = 3.9%
- Data revision average size A6 = N/A
- Imputation rate A7 = 1.93%
- Time lag - first results (between reference period and publication of first results) TP1 = -2 days
- Time lag - final results (between reference period and publication date of final results) TP2 = 13 days
- Punctuality - delivery and publication TP3 = 100%
- Length of comparable time series CC2 = 346 months
- Data consultation AC1 = 267,462
- Metadata consultation AC2 = 4,567
- Metadata completeness rate AC3 = 100%
See Quality management section on INE website for further information.
12.1. Relevance - User Needs
In addition to being a general measure of inflation, the HICP is also used in the areas of:
- wages, social benefit and contract indexation;
- economic forecasting and analysis;
- measuring specific price trends;
- accounting purposes and deflating other series;
- inflation targeting by central banks;
- cross-country economic comparisons.
The euro area (evolving composition) index is used by the European Central Bank (ECB) as the main indicator for monetary policy management. The ECB and the European Commission's Directorate-General for Economic and Financial Affairs (DG ECFIN) use the HICP for assessing price stability and price convergence required for entry into European Monetary Union.
Other users include: National Central Banks, financial institutions, economic analysts, the media and the public at large.
12.1.1. User Needs - national specifics
The main users of the HICP are the European Central Bank (ECB), the Spanish Central Bank (Banco de España, BDE), the Ministry of Finance, EU institutions, financial institutions and economic analysts.
The most important use is the comparison of inflation between EU and EA countries.
Also HICP data are used in the production of Purchasing Power Parities and the Competitiveness Guarantee Index, which is calculated in order to comply with the requirements established by Law 2/2015, of 30 March, on deindexation in the Spanish economy.
12.2. Relevance - User Satisfaction
General user satisfaction surveys were launched in 2007 and are regularly conducted on a three-year basis. Their main purpose is knowing about user perceptions on statistics with respect to the quality of the information and the extent to which they meet user needs. In addition, other specific surveys are conducted in order to research into concrete aspects, such as dissemination or special publications.
The HICP is one of the most valuable surveys in terms of user satisfaction.
The User Satisfaction Survey 2019 provides a user satisfaction index, that results in 4.36 points over 5 for the CPI, which means the CPI is the most valuable statistical product from INE, according to respondents.
Regarding relevance, the percentage of positive and very positive valuations over the total is around 90.0% for the CPI.
In addition to the Price Statistics Working Group and all other related forums at European level, there is a specific working group for the Spanish CPI in which the Ministry of Finance, the Presidential Office, the Spanish Central Bank ('Banco de España'), trade unions, consumer associations and universities participate.
12.3. Completeness
All significant ECOICOP sub-indices are produced and published.
13.1. Accuracy - overall
The accuracy and reliability of the HICP are achieved combining price collection methods with outlet selection (according to popularity and turnover) and item selection (according to consumption).
13.2. Sampling error
Sampling errors are not calculated because the HICP sample is based on non-probability methods.
Non-probability sampling is used because there is no available information either on expenditure in outlets or on expenditure on products in outlets.
The number of prices collected is as high as possible in order to minimise sampling errors.
13.3. Non-sampling error
Non-sampling errors are not quantified. Some software applications have been developed to detect and reduce potential errors in the collection process.
Field inspections are carried out regularly to detect inappropriate practices.
14.1. Timeliness
The full set of HICPs is published each month according to a pre-announced schedule, usually between 15 and 18 days after the end of the reference month. Each year, the January news release is published at the end of February to allow for the annual update of the weights 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.
14.2. Punctuality
Since the March 1997, launch of the HICP release, the HICP for the country groups aggregates has always been published on the pre-announced release dates.
15.1. Comparability - geographical
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).
15.2. Comparability - over time
HICP data are fully comparable over time. There have been several improvements in methodology since the HICP was introduced with the aim of increasing its reliability and comparability.
The introduction of reduced prices (in 2002), the implementation of the new treatment for seasonal products (in 2011) and the reallocation of some items due to the implementation of the ECOICOP (in 2015) caused a break in the index series. As a result, the HICP indices were revised one year backwards, applying the new methodology, in order to produce consistent rates of change during the first year of implementation.
15.3. Coherence - cross domain
The HICP is consistent with the national CPI, which is also produced by INE.
Nevertheless, the two indices are produced for different purposes and therefore present some differences in methodology and coverage:
- Consumption expenditures of residents in institutional households and of non-residents within the economic territory of the country are included in the HICP but not in the national CPI.
- The expenditure of national residents abroad is included in the national CPI but excluded from the HICP.
- For clothing and footwear seasonal products, out-of-season prices are estimated for the HICP but carried forward for the CPI.
- The HICP base year is 2015=100 but the CPI base year is 2021=100.
- Games of chance are included in the CPI but not in the HICP.
15.4. Coherence - internal
The HICPs are internally coherent. Higher level aggregations are derived from detailed indices according to well-defined procedures.
Not available.
17.1. Data revision - policy
The HICP series, including back data, is revisable under the terms set in Articles 17-20 of Commission Implementing Regulation (EU) 2020/1148.
17.1.1. Data revision - policy - national specifics
The Spanish HICP data may be revised due to mistakes or where changes introduced by a regulation produce incomparability; then the indices are revised one year backwards in order to produce consistent rates of change during the first year of implementation.
On the contrary, the national CPI data are not revised.
17.2. Data revision - practice
The Spanish HICP data are not revised, except where changes introduced by a Regulation produce incomparability. Then the indices for the previous year are revised in order to produce consistent rates of change.
The HICP series have been revised three times:
- in 2002 due to the introduction of price reductions,
- in 2011 because of the change in the treatment for seasonal products and
- in 2015 due to the reallocation of some items in the implementation of the ECOICOP classification.
18.1. Source data
See next points.
18.1.1. Weights
Explicit weights are introduced at elementary aggregate level, which in Spain is determined by items and provinces. The main sources of information for the HICP weights compilation are the Spanish National Accounts and the Household Budget Survey.
For the scanner data weights the source is the scanner data file itself.
18.1.1.1. Compilation at elementary aggregate level
Explicit weights are introduced at elementary aggregate level, which in Spain is determined by items (one additional national level below 5-digit ECOICOP) and provinces. Nevertheless there are weights at lower breakdown levels for some centrally collected products, e.g. for companies or consumer profiles.
Outlets are not explicitly weighted (since January 2020 the scanner data for one chain has been included in the HICP, and in January 2021 another chain more has been included, therefore for these chains and for the items in which the scanner data are applied, there are explicit weights). At these levels, unweighted geometric mean prices are calculated to enter the index compilation, as well as for product varieties within elementary aggregates.
Upper weights are calculated basing on the information provided by National Accounts data. Where these sources do not suffice, other reliable information (e.g. from companies or trade associations) is applied to complete the information and compile the corresponding weights.
In those cases where there is no quantitative information available, equal weights are applied to those elementary aggregates that are deemed to have the same importance within a sub-index division; otherwise, proportional weights are used.
HICP weights are deeply revised and updated every 5 years at all levels, from ECOICOP divisions down to the most detailed level (elementary aggregates).
18.1.1.2. List of elementary aggregates
Restricted from publication18.1.1.3. Compilation of sub-index weights
The main sources of information for the HICP weights compilation at ECOICOP level are the Household Budget Survey (HBS) and preliminary National Accounts data on Household Final Monetary Consumption Expenditure.
For the scanner data weights the source is the scanner data file itself.
HICP weights enter the index compilation through weighted arithmetic mean formulae at ECOICOP level (and type of level and ECOICOP level for scanner data). Variations in sub-index weights are obtained from National Accounts data for (t-2) and updated to December (t-1) and applied down to 5-digit ECOICOP level.
18.1.1.4. Price updating
In general, HICP weights are price-updated to December (t-1) price level, but other price developments are also considered and applied where appropriate (e.g. previous year’s average price level), as well as information on quantities, basing on the information provided by data sources on supply.
For the price updating the relative change of the prices of December t-1 of the 5-digit ECOICOP over the whole HICP is applied.
18.1.2. Prices
Price data are surveyed, using purposive sampling.
18.1.2.1. Prices Data Source – detailed information
Restricted from publication18.1.2.2. Price Collection Survey
Restricted from publication18.1.2.3. Administrative data sources
No administrative data sources are used.
18.1.2.4. Transaction data - general information
Scanner data is implemented in the Spanish HICP from January 2020 for one retailer (for their hypermarkets and medium and small supermarkets), which has around 8% of expenditure share.
In January 2021 the data of another retailer has been included, with an expenditure share of around 3%.
18.1.2.5. Transaction data - detailed information
Scanner data is included from January 2020.
The main processing steps that we distinguish are the following:
- To receive the weekly data
- To make control quality data process
- To apply the dynamic approach
- To compile indices (elementary and aggregated)
- To repeat the process every week, adding the data of previous week.
- To finish the monthly indices, when we have data for three weeks.
We make a manual assignment of the GTINs to ECOICOP using the internal classification of the retailer.
For the selection to GTINs to include in the calculation, we use a dynamic approach, therefore we make a selection of the common GTINs between previous and current month until cover a minimum expenditure share. This selection is made for type of outlet (hyper, medium super and small super) and province.
Once a GTINs selection was made, we calculate a geometric mean for previous and current month, and the monthly change of these means. We calculate the elementary aggregates indices applying the monthly change of the common GTINs to the elementary index of the previous month.
To integrate the SD EAs into the HICP we do the following:
- Explicit weights at 6-digit COICOP level (CPI item) are divided between 'Traditional collection' and 'SD', using % sales chain (around 8,0% SD first chain, around 3,0% second chain and 90,0% traditional collection), the same quota for all 5-digit ECOICOP with SD items.
- The 10,0% of the 5-digit ECOICOP weight is distributed among the SD items of that subclass using the scanner data information of each chain.
For the missing GTINs we estimate their prices applying the change of the elementary aggregate.
Relaunches and replacements have not been treated up to now and correctness of the prices is not verified.
Elementary aggregates are resampled once a year.
The data arrive on time always.
18.1.2.6. Web scraping - general information
Web scraping is implemented in some accommodation services (short-stay accommodation in secondary residences) in 2022.
In 2023 the data from another company have been included.
18.1.3. Sampling
See next points.
18.1.3.1. Sampling design: locations for survey
The Spanish HICP covers the whole national territory. Prices are collected in all of the 52 provinces, in every capital city and in some other municipalities, attending to demographic and geographical criteria. Those municipalities are chosen starting from the one with the biggest population; the rest of them are chosen in descending order until a minimum threshold of population is reached (30% for provinces and 50% for autonomous communities). Also the distribution of the municipalities is taken into account, in order to avoid concentrations and so that the municipalities in the sample are widespread all over the corresponding province. In addition, special attention is paid to small municipalities, which also are included in the sample to improve the representativity of the index.
As a result, at present the sample consists of 177 municipalities (52 capital cities and 125 non-capital municipalities). The smallest municipalities in the sample have less than 30,000 inhabitants.
18.1.3.2. Sampling design - outlets
In broad terms, the number of outlets in the sample is determined according to the weight and price variability of each item in the basket (the higher they are, the bigger is the number of outlets), always with a minimum threshold that is defined for each province basing on the type of item and the corresponding type of price collection.
Department stores, hypermarkets, supermarkets, franchised chains, traditional groceries, market places and specialty stores are included in the sample.
Street market stalls, mail order and convenience stores in petrol stations are excluded.
18.1.3.3. Sampling design - products
The starting point of price collection is the selection of representative items that enter the basket of goods and services in the first place and subsequently the specific products that will be observed in practice. The first stage is carried out in the central office in order to define the basket in general terms, at national level. Then the specific products (product-offers) that are selected in each outlet are the corresponding best sellers, but also trying to diversify brands. They are chosen by local price collectors, who ask outlet managers for advice, but always following the general instructions that have been developed and transmitted by the central office.
18.1.3.4. Sampling design: newly significant goods and services
Newly significant goods and services are identified basing on field information as well as other data sources, such as the press or consumers associations; also the expertise of the HICP personnel on consumption is taken into account.
They are introduced in the index compilation in December, in the corresponding ECOICOP subclass, using a chain index formula. In order to measure the significance level for these new products, we seek information from data sources of the relevant sector.
In 2019, actual rentals for secondary residences (CP04121) and dental prosthesis (CP06139) were introduced in the index.
In 2022, other medical products n.e.c. (CP06129), accessories for personal transport equipment (CP07213), pilates/yoga classes (CP0941202) and newspaper digital subscription (CP0952103) were introduced in the index.
18.2. Frequency of data collection
Price data is collected every month.
18.3. Data collection
See next points.
18.3.1. Timing of price collection
In general, regional price collection takes place during the first 22 days every month. For some centrally collected items, prices are observed during the whole month (e.g. electricity and tobacco). For scanner data the data of the three central weeks are included.
18.3.2. Devices for price collection
From 2023 prices are collected through electronic devices and for scanner data for two retail chains.
18.4. Data validation
Questionnaires are recorded and first validated in regional offices. All necessary control criteria are established in order to ensure the adequate quality level during the whole process. As a result, eventual recording mistakes are monitored from the beginning (the software application detects price changes exceeding a threshold).
After price collection and data recording, all price changes beyond a threshold are checked and validated in regional offices.
In addition, double price collections are carried out occasionally in order to ensure the quality and correctness of the data.
18.4.1. Data validation - Survey data
Collected prices are first validated in regional offices during the recording stage and all significant price changes must be checked and explained. They are subsequently edited and validated again at central level.
There are field inspections in which both outlets and product specifications are checked and confirmed. Where there are any mistakes in recorded prices, they are corrected basing on the available information or else, where there is none, they are estimated.
There are also automatic and manual controls for the recording and validation of the data, which are mainly applied to detect outliers.
For collected prices, significant variations (over ±10%) are flagged and must be explained by price collectors. Then prices are edited and checked for significant price changes (over ±10% or causing a big impact) and subsequently validated, basing on the information that is recorded for all flagged observations. Regional offices are asked for further explanations when needed, in order to confirm, adjust or reject the relevant observations.
18.4.2. Data validation - transaction data, web scraping and large administrative data
GTINs with a monthly price variation of less than -75% or more than 300% are excluded.
18.4.3. Data validation - weights
The plausibility of the HICP weights is checked during both the annual updating process and the five-year revision of weights at lower levels. As the HICP weights are estimated using information from different data sources, the consistency between them is verified; for those inconsistencies that may appear, further research is made in order to determine the causes and treat the information in question accordingly.
See annex under point 19.2 (restricted to Eurostat).
18.4.4. Indices
The plausibility of the indices is checked monthly analysing annual changes, monthly changes and contributions, at different aggregate and geographical levels and in comparison with those for the previous month (m-1) and the same month in the previous year m(t-1). For those sub-indices that differ from the national CPI in coverage or treatment, also the corresponding rates and contributions are analysed, checking the HICP against the CPI.
18.5. Data compilation
See next points.
18.5.1. Elementary price index formulae
The Spanish HICP is a Laspeyres-type chain index.
At elementary aggregate level, HICP indices are compiled using the Jevons formula (i.e. a geometric mean formula) in order to avoid the effects of price levels within elementary aggregates.
Observed prices are recorded with 2 decimals and final prices (i.e. after adjusting for quality changes) are compiled with 12 decimals. Weights are estimated with 12 decimals.
HICP indices are compiled and transmitted with 12 decimals, but subsequently rounded to 2 decimals for compiling rates of change and publishing. In turn, the rates of change are rounded to 1 decimal for publishing.
Rounding is applied for shortening the number of decimals in all cases.
18.5.2. Aggregation of different data sources
The aggregation steps, from bottom up, are the following:
- Average prices are first compiled at province level, using unweighted geometric mean formulas.
- Elementary indices are secondly compiled at elementary aggregate level, as a quotient of average prices, with reference to December of the previous year.
- Elementary indices are subsequently aggregated to obtain the indices for geographical or functional upper aggregates (where applicable), using weighted arithmetic mean formulas.
- Aggregate indices are finally chained to the base year.
18.5.3. Chaining, linking and splicing methods
Aggregate indices are chained to the base year multiplying the indices for month m referred to December (t-1) by the indices for December (t-1) with reference to the base year (divided by 100).
As a chain index formula is applied, there is no splicing.
18.5.4. Quality adjustments and replacements
Restricted from publication18.5.5. Seasonal items
In the Spanish HICP, there are two main groups of seasonal products. The first one includes some fresh fruit and fresh vegetables, and the second one includes most of the items of clothing and footwear.
Therefore the special treatment for seasonal products is applied in the following ECOICOP sub-classes:
01161 Fresh or chilled fruit
01171 Fresh or chilled vegetables other than potatoes and other tubers
03121 Garments for men
03122 Garments for women
03123 Garments for infants (0 to 2 years) and children (3 to 13 years)
03131 Other articles of clothing
03211 Footwear for men
03212 Footwear for women
03213 Footwear for infants and children
Prices for products that are out of season are estimated, using the average price change of the rest of products in the sub-class that are available (all-seasonal estimation). The indices are compiled using strict annual weights.
18.6. Adjustment
See next point.
18.6.1. Seasonal adjustment
No seasonal adjustment is made.
None.
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.
The main statistical variables are price indices.
The basic unit of statistical observation are prices for consumer products.
See next points.
See next points.
HICP is a monthly statistics.
The accuracy and reliability of the HICP are achieved combining price collection methods with outlet selection (according to popularity and turnover) and item selection (according to consumption).
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 a pre-announced schedule, usually between 15 and 18 days after the end of the reference month. Each year, the January news release is published at the end of February to allow for the annual update of the weights 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 data are fully comparable over time. There have been several improvements in methodology since the HICP was introduced with the aim of increasing its reliability and comparability.
The introduction of reduced prices (in 2002), the implementation of the new treatment for seasonal products (in 2011) and the reallocation of some items due to the implementation of the ECOICOP (in 2015) caused a break in the index series. As a result, the HICP indices were revised one year backwards, applying the new methodology, in order to produce consistent rates of change during the first year of implementation.