1.1. Contact organisation
Statistical Office of Slovak Republic (SO SR)
1.2. Contact organisation unit
Department of price statistics
1.3. Contact name
Restricted from publication1.4. Contact person function
Restricted from publication1.5. Contact mail address
Statistical Office of the Slovak Republic
Lamačská 3/C
840 05 Bratislava
Slovak Republic
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
7 August 20232.2. Metadata last posted
4 February 20252.3. Metadata last update
4 February 20253.1. 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
HICP covers target population including institutional households.
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
No national specifics.
3.8. Coverage - Time
See next points.
3.8.1. Start of time series
The HICP series started in January 1996.
3.8.2. Start of time series - national specifics
The Slovak HICP series started in January 1996 and the HICP-CT in December 2002.
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.
Further methodological documentation, namely recommendations and guidelines, is available in the HICP dedicated section, under 'Methodology'.
6.2. Institutional Mandate - data sharing
Not available.
7.1. Confidentiality - policy
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.
Protection of confidential statistical data is guaranteed by the Act No 540/2001 Coll. on State Statistics, as amended.
7.2. Confidentiality - data treatment
Published indices are calculated from the aggregated individual data - no disclosure is then possible.
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
8.3. Release policy - user access
The data are released simultaneously to all interested parties by issuing the Information reports, which is posted on the Internet website of the Statistical Office of the Slovak Republic) at 9:00 a.m. (CET time) on the day of release. Copies are available to the public from the SO SR Press Secretary and from the Information Service of the SO SR.
Monthly
HICP is released on the website of SOSR in Slovak and English language.
HICP index figures are disseminated with 2 decimals, HICP rates with 1 decimal
10.1. Dissemination format - News release
Informative report, HICP indices to the different basis.
10.2. Dissemination format - Publications
The HICP are published on the Internet website of Statistical office of the Slovak Republic, usually on the date of release of HICP by Eurostat, but SO SR publishes HICP at 9:00
10.3. Dissemination format - online database
Eurostat : HICP database
Statistical office of Slovak Republic database
10.4. Dissemination format - microdata access
Microdata can be provided for researches.
10.5. Dissemination format - other
Not available.
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
The general methodology of HICP is available on the website of SO SR, where also the link to Eurostat’s HICP dedicated section is provided.
10.7. Quality management - documentation
See Eurostat's Compliance Monitoring Report of 2017 on the web page Quality - Harmonised Indices of Consumer Prices (HICP) (europa.eu) and namely the follow-up Report of 2020
The Statistical office of the Slovak Republic (SOSR) is able to provide Eurostat with information for evaluation of HICP compliance monitoring on the basis of Eurostat request. Statistical Office of the Slovak Republic does not have a special certificate confirming the quality of HICP compilation.
11.1. Quality assurance
See next points.
11.1.1. Quality management - Compliance Monitoring
11.1.2. Quality assurance - national specifics
Controls on the quality of the data
There are more levels of data quality control: by the price collectors in 37 regions and by the staff of Trencin Regional Statistical Office where the central checking of prices as well as a compilation of CPI indices is performed.
If a price deviates by more than 20% from the corresponding price in the previous month, a query is raised by the data input system, for the collector to investigate. Since 8 regional co-ordinators (NUTS 3 level) have only one day or so to receive data from the price collectors, and pass it on to the central level, their responsibility concerns mainly the control for data completeness. After data have been centrally collated/processed in Trencin, various reports are produced.
First, a basic report on monthly price movements: flagging those individual prices differing by more than 20% from the previous corresponding price; of those individual prices differing by more than 20% from the national average; minimum and maximum prices; and noting the number of months since a price last changed. This is accompanied by a report comprising all comments made by collectors in the respective month (it is important mainly for the assessment of replaced products; in case of a replacement price collectors are obliged to provide not only the description of characteristics of the replacement, but also other important information concerning observed prices - there are special codes for different types of information for that purpose). Then there is the first calculation of the preliminary indices for elementary aggregates and for all ECOICOP sub-classes, classes, groups and divisions. Officers in Trencin check the price data collected, and take up any queries raised, contacting either the price collectors, or, sometimes, directly the respective outlet. Quality Adjustment is performed at this stage. In some cases, the consultation with Bratislava Central Statistical Office is needed. After all relevant queries have been resolved, the indices are re-calculated, and the various sub-group indices produced.
11.2. Quality management - assessment
See next points.
11.2.1. Compliance monitoring - last report and main results
The last available compliance or follow-up report can be found in Eurostat's web page Quality - Harmonised Indices of Consumer Prices (HICP)
11.2.2. Quality assessment - national specifics
There are no national specifics in quality assessment.
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
National Bank of Slovakia and Ministry of Finance of Slovak Republic are the main users.
12.2. Relevance - User Satisfaction
There are occasional surveys of SO SR regarding user satisfaction.
12.3. Completeness
Indices for ECOICOP categories are produced with the following exceptions:
ECOICOPCODE DESCRIPTION
01.1.2.3 Lamb and goat
01.1.3.3 Fresh or chilled seafood
02.1.1.2 Alcoholic soft drinks
02.1.2.2 Wine from other fruits
02.1.2.3 Fortified wines
02.1.2.4 Wine-based drinks
02.1.3.2 Other alcoholic beer
02.1.3.4 Beer-based drinks
02.2.0.2 Cigars
02.2.0.3 Other tobacco products
04.1.2 Other actual rentals
04.1.2.1 Actual rentals paid by tenants for secondary residences
04.1.2.2 Garage rentals and other rentals paid by tenants
04.3.2.2 Services of electricians
04.3.2.3 Maintenance services for heating systems
04.3.2.5 Services of carpenters
04.4.4.2 Security services
04.5.3 Liquid fuels
05.1.1.9 Other furniture and furnishings
05.1.2.3 Services of laying of fitted carpets and floor coverings
05.1.3 Repair of furniture, furnishings and floor coverings
05.2.0.4 Repair of household textiles
05.3.2.4 Toasters and grills
05.4.0.4 Repair of glassware, tableware and household utensils
05.5.1.2 Repair, leasing and rental of major tools and equipment
05.5.2.3 Repair of non-motorized small tools and miscellaneous accessories
05.6.2.1 Domestic services by paid staff
05.6.2.3 Hire of furniture and furnishings
06.1.3.2 Hearing aids
06.1.3.3 Repair of therapeutic appliances and equipment
06.2.1.2 Specialist practice
06.2.3.1 Services of medical analysis laboratories and X-ray centres
07.1.4 Animal drawn vehicles
07.2.1.3 Accessories for personal transport equipment
07.3.1.2 Passenger transport by underground and tram
07.3.3.1 Domestic flights
07.3.4 Passenger transport by sea and inland waterway
07.3.4.1 Passenger transport by sea
07.3.4.2 Passenger transport by inland waterway
07.3.6.1 Funicular, cable-car and chair-lift transport
07.3.6.9 Other purchased transport services n.e.c.
08.1.0.9 Other postal services
08.2.0.1 Fixed telephone equipment
08.2.0.3 Other equipment of telephone and telefax equipment
08.2.0.4 Repair of telephone or telefax equipment
08.3.0.5 Other information transmission services
09.1.2.2 Accessories for photographic and cinematographic equipment
09.1.2.3 Optical instruments
09.1.4.1 Pre-recorded recording media
0.9.1.4.2 -Unrecorded recording media
09.2.1 Major durables for outdoor recreation
09.2.1.1 Camper vans, caravans and trailers
09.2.1.2 Aeroplanes, microlight aircraft, gliders, hang-gliders and hot-air balloons
09.2.1.3 Boats, outboard motors and fitting out of boats
09.2.1.4 Horses, ponies and accessories
09.2.1.5 Major items for games and sport
09.2.2.2 Major durables for indoor recreation
09.2.3 Maintenance and repair of other major durables for recreation and culture
09.3.2.3 Repair of equipment for sport, camping and open-air recreation
09.3.4.1 Purchase of pets
09.4.2.2 Museums, libraries, zoological gardens
09.4.2.4 Hire of equipment and accessories for culture
09.4.2.9 Other cultural services
09.5.1.4 Binding services and E-book downloads
10.3 Post-secondary non-tertiary education
12.1.2.2 Repair of electric appliances for personal care
12.3.2.3 Repair of other personal effects
12.4.0.4 Counselling
12.5.3.1 Public insurance connected with health
12.5.5 Other insurance
12.6.2.2 Fees and service charges of brokers, investment counsellors
13.1. Accuracy - overall
The accuracy of the source data is ensured by adhering to a common methodology for determining prices and data sources for the calculation of weighting schemes. Data from National Account data, Household Budget Survey data and external sources are used for weights' calculation.
Prices are obtained by price collection by internal SO SR employees in shops and service operations, via the Internet and telephone. The prices of selected representative items are also obtained through central data collection. Sufficient coverage and timeliness are ensured. From 2024, prices for food and non-alcoholic beverages are calculated using scanner data, data for the second and third week of the monitored month are included in the calculation.
The accuracy of HICP is generally considered to be high.
13.2. Sampling error
The exact sampling error is not known. The NSI seeks to reduce sampling errors by updating the sample every year. Prices are monitored throughout the country.
13.3. Non-sampling error
Non-sampling errors are not quantified in HICP.
The prices are collected by NSI staff. For this reason, non-sampling errors can arise in a non-response case only if the selected operation is temporarily closed or the monitored goods are temporarily not located in it.
Regarding such temporary phenomena, updating procedures are integrated in the processing program to prevent biases. If the goods are unavailable for a long time or the outlet is closed for a long time, the price collectors are obliged to replace the particular outlet. Errors that could arise in the process of data processing and calculation of price indices are captured by the data processing program.
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 comparable over time. There have been several improvements in methodology since HICP was introduced with the aim of improving reliability and comparability of the HICP. These changes may have introduced breaks in time series. However back calculations under the newer standards were performed when appropriate basic data was available.
15.3. Coherence - cross domain
Differences between the HICP and national CPI
The difference between CPI and HICP are partially caused by their different coverage; "imputed rentals" and/or some products related to Owner Occupied Housing major maintenance and repairs are excluded from the HICP coverage.
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
There is no obstacle to revise HICP data at national level.
17.2. Data revision - practice
In the year 2005, the HICP index revision was carried out following the correction for mistakes in price updated weights for pharmaceutical products in compliance with the Commission Regulation (EC) No 1921/2001, the affected COICOP categories being 06.1.1, 06 and the overall index.
18.1. Source data
See next points.
18.1.1. Weights
The weights at the 4-digit COICOP level are based on annual National Accounts (NA) data Household final consumption aggregates for the year t-2 (2022). These expenditure shares were compared with the preliminary NA data for the first 3Q 2023 and 4Q2024. When comparing these data for the preliminary NA data for the first 3q 2023 and 4q 2022 with NA data for 2022 there were no big diffrence in the expenditure pattern - from this reason we decided to use NA data for the year 2022 for the weight calculation.
To obtain Household final monetary consumption expenditures the NA data are used in order to subtract: Consumption of households own production, Goods and services received as wages and salaries in kind, Unrecorded economy and others.
The various sources are used for different product groups at the level of the ECOICOP 5-digit level or below - i.g., NA, Household budget survey 2021, scanner data for food and non-alcoholic beverages).
18.1.1.1. Compilation at elementary aggregate level
The source of the weights at the lower level (elementary aggregate level) are Household Budget Survey and some additional administrative and external data sources (for example, information from services and goods providers (e.g. in railway passeneger transport, gas, electricity, telecom operators, tobacco products, etc.).
The source of the detailed ECOICOP weights (6 digit level) for food and non-alcoholic beverages is scanner data for the individula retail chains.
Other important information sources to improve detailed weights are Regulatory Office for Network Industries, Insurance Association, National bank of the Slovak Republic, and others.
18.1.1.2. List of elementary aggregates
Restricted from publication18.1.1.3. Compilation of sub-index weights
Restricted from publication18.1.1.4. Price updating
The Statistical Office of the Slovak Republic in the creation of the weighting scheme also performs HICP price updating of weights. Price updating of weights is at the level of ECOICOP 5 from the average t-2 to December t-1.
18.1.2. Prices
Prices are defined as consumer prices including VAT. The price data is mostly based on the price survey; administrative data sources are used only in specific cases. Scanner data are used for food and non-alcoholic beverages.
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
Restricted from publication18.1.2.4. Transaction data - general information
Starting with the year 2024 the SO SR uses transaction data - scanner data from retail chains to monitor the development of prices for Food and non-alcoholic beverages - COICOP 01.
The Office receives weekly data from five retail chains regarding food and non-alcoholic beverages. This data includes a unique product identifier, a product description, the quantity sold, product sales (turnover) and internal retail chain classification for the product. This data cover approximately 80% of the retail market and are collected from about 2,400 stores spread across Slovakia, including small village stores.
There are plans to include Scanner data in 2025 for Alcoholic beverages.
18.1.2.5. Transaction data - detailed information
SO SR receives transaction data from the 5 largest retail chains operating in Slovakia. The data are used to calculate price indices for COICOP 01 - Food and non-alcoholic beverages. The use of transaction data for the calculation of price indices for COICOP 021 - Alcoholic beverages is being prepared.
Data files from 5 chain retails contain turnover and sold amounts of individual goods in the form of a weekly aggregate (from Monday to Sunday). Structural validation of the file is conducted on the input to the information system. Subsequently, individual products are classified into the ECOICOP classification of individual consumption, which divides the basket of goods and services into divisions (2-digit), groups (3-digit), classes (4-digit) and subclasses (5-digit). For 01 – Food and non-alcoholic beverages ECOICOP classification, a national, more detailed 6-digit level of classification - ECOICOP6 - was defined to process scanner data, which is common to the data of all retail chains currently cooperating with the Statistical Office of the Slovak Republic. The 6-digit level was defined in order to create homogeneous groups of products.
Each product enters the index calculation based on its importance. Therefore, filters are applied to the data that exclude some products from the calculation. Filtering removes products with an extreme change in price compared to the previous period, products of final sale (a drop in price and a significant decline in turnover at the same time) and low selling products.
The Statistical Office of the Slovak Republic decided to follow the dynamic approach of using scanner data. The dynamic approach better takes into account the currently sold products and is simpler from the point of view of the automation process. Products that are on sale simultaneously in both consecutive periods/months (t and t + 1, t + 1 and t + 2, t + 2 and t + 3, etc.) with turnover above a certain threshold are automatically selected. Each month, the set of individual products that enter the index is selected anew. At the lowest level of aggregation, the index is calculated based on a set of paired representative commodity items that are actually sold in two consecutive periods.
To calculate the consumer price index, the Jevons formula is used at the lowest level of aggregation, which can be interpreted as the geometric mean of the price ratio.
SO SR receives transaction data from the 5 largest retail chains operating in Slovakia. The data are used to calculate price indices for COICOP 01 - Food and non-alcoholic beverages. The use of transaction data for the calculation of price indices for COICOP 021 - Alcoholic beverages is being prepared.
Data files from 5 chain retails contain turnover and sold amounts of individual goods in the form of a weekly aggregate (from Monday to Sunday). Structural validation of the file is conducted on the input to the information system. Subsequently, individual products are classified into the ECOICOP classification of individual consumption, which divides the basket of goods and services into divisions (2-digit), groups (3-digit), classes (4-digit) and subclasses (5-digit). For 01 – Food and non-alcoholic beverages ECOICOP classification, a national, more detailed 6-digit level of classification - ECOICOP6 - was defined to process scanner data, which is common to the data of all retail chains currently cooperating with the Statistical Office of the Slovak Republic. The 6-digit level was defined in order to create homogeneous groups of products.
Each product enters the index calculation based on its importance. Therefore, filters are applied to the data that exclude some products from the calculation. Filtering removes products with an extreme change in price compared to the previous period, products of final sale (a drop in price and a significant decline in turnover at the same time) and low selling products.
The Statistical Office of the Slovak Republic decided to follow the dynamic approach of using scanner data. The dynamic approach better takes into account the currently sold products and is simpler from the point of view of the automation process. Products that are on sale simultaneously in both consecutive periods/months (t and t + 1, t + 1 and t + 2, t + 2 and t + 3, etc.) with turnover above a certain threshold are automatically selected. Each month, the set of individual products that enter the index is selected anew. At the lowest level of aggregation, the index is calculated based on a set of paired representative commodity items that are actually sold in two consecutive periods.
To calculate the consumer price index, the Jevons formula is used at the lowest level of aggregation, which can be interpreted as the geometric mean of the price ratio.
18.1.2.6. Web scraping - general information
The SO SR does not use web scraping in the real production of HICP.
18.1.3. Sampling
18.1.3.1. Sampling design: locations for survey
Restricted from publication18.1.3.2. Sampling design - outlets
About 9 900 outlets in the country are chosen for the survey. Outlets are selected on the regional level (following the recommendations given in 'Methodological instructions for price collection, verifying and reporting of data on consumer prices'; the outlets where people usually do their shopping are chosen preferably).
Scanner Data are obtained form 5 retail chains.
18.1.3.3. Sampling design - products
Restricted from publication18.1.3.4. Sampling design: newly significant goods and services
Restricted from publication18.2. Frequency of data collection
Price data is collected every month.
18.3. Data collection
See next points.
18.3.1. Timing of price collection
Price collectors collect prices during the first 20 days of the reference month.
Scanner data from retail chains cover the second and third week of the reference month.
Fuel prices are received on the weekly basis from Administration of the State Material Reserves of the the Slovak Republic. The prices of all weeks of the reference month are covered in the final data.
18.3.2. Devices for price collection
Electronic devices are used in the consumer price statistics since January 2015.
18.4. Data validation
Consumer prices as well as other information related to the collected prices are collected and recorded (using the special software) by price collectors - employees of SO SR in 37 price collection regions of Slovak Republic. The detailed work of verifying of the collected prices as well as of all information concerning consumer prices is done at the computation centre in Regional Statistical Office (RSO) placed in Trencin (within the structure of SOSR each RSO is aimed at a particular area of statistics – RSO Trencin is aimed at price statistics). On the basis of this, RSO Trencin is responsible for processing of consumer prices in entire Slovakia.
The validation process in RSO Trencin consists of the following 4 stages:
A. Indices are compiled directly from edited prices
B. Indices are re-compiled after correction of typed mistakes and/or of other mistakes
C. Indices are re-compiled after Quality Adjustment
D. Indices are re-compiled after imputation of the seasonal products that are outside the season.
18.4.1. Data validation - Survey data
The price collectors edit prices and also characteristics related to the products.
Information on prices is collected by the price collectors - employees of SOSR. The price collectors edit (record) the prices and also characteristics related to the products and/or information related to the prices using the specially developed software.
The software first enables checking of the prices when entering (typing, editing) of the prices in the electronic devices. If the difference in price for a given product offer in the current and the preceding month is greater than 20 %, the software will display a notification. If it is not a real price increase/decrease, but a 'typo' mistake, the price collector corrects this price using the software. If it is a real price increase/decrease, the price collector has to comment this change. The software also enables to check the completeness of the prices for all representative items – it is possible to check the number of recorded and unrecorded prices for each outlet.
The detailed work of verifying the collected prices as well as of all related information concerning prices is done by the process of the compilation of index of consumer prices. The various reports are produced by software for the purpose of verification of collected prices. First, a basic report on the month´s prices: in this basic report those individual prices differing by more than 20% from the previous corresponding price are marked; also individual prices that differ by more than 20% from the national average are marked. To every individual price a number representing the number of months since a price last changed is attributed. This basic report is accompanied by a report comprising all comments made by collectors in the month (it is important mainly in the assessment of replaced products – in case of a replacement price collectors are obliged to provide the description of characteristics of the replacement, but price collectors are also obliged to write other important information concerning observed prices – there are special codes for different types of information).'The report of Table comments' – contains the important information related to the collected prices in the prescribed structure (maximum 20 characters for 'Brand' and maximum 80 characters for 'Comments' with the other important information related to the collected price). The table comments refer particularly to the prices collected for the new (replacement) product offers and/or to the product offers collected in the new outlets and also to the prices with the month on month change more than 20 %. This report of 'table comments' also serves for the assessment whether the collected price for the replacement product offer had been collected in compliance with the descriptions of the representative items, if not, the price may be excluded from further processing. This report is also important for the process of quality adjustment (for assessment of the quality change of the replacement product offer). Every 'outlier' is assessed individually on the basis of analytical report and/or on the basis of table comments.
Then the first calculation is performed to obtain preliminary indices for elementary aggregates and all ECOICOP subclasses, classes, groups and divisions. The queries arisen during the process of validation of prices are consulted with the price collectors or, sometimes, directly with the outlet. After the resolution of queries the indices are recalculated and the various sub-group etc. indices produced.
18.4.2. Data validation - transaction data, web scraping and large administrative data
The scanner datasets are checked for consistency when they are received. The indicators assessed every week for each data provider are: Date check - whether the weekly file arrived for the correct week, Checking the change in the number of lines in the current file for a given retail chain compared to the previous week, Checking the change in total sales for a given retail chain compared to the previous week, Duplication check for a unique GTIN (if by chance there are no duplicate products in the file with respect to the GTIN), Checking the completion of the required columns, Checking the change in the internal classification of the retail chain - whether there has been a change in the internal classification of the products in the given retail chain - it may not be an error, rather information for us, Checking of the change in the content of the given product and checking of the change of the unit of measure for the given product compared to the past.
During data processing, a monthly file is created by aggregating selected weekly files in a given month. Such a file is compared with the monthly file from the previous period.
Each product enters the index calculation based on its importance. Therefore, filters are applied to the data that exclude some products from the calculation. Filtering removes products with an extreme change in price compared to the previous period (Outlier filter), products of final sale with the decrease in price and a significant decline in turnover at the same time (Dumping filter) and low selling product (Low sales filter).
Web scraped data are not used in real calculation of HICP.
Large external data - like fuels prices are validated by data provider itself.
18.4.3. Data validation - weights
The weights are compared with the weights from the previous years.
18.4.4. Indices
Index plausibility check is performed during data processing.
18.5. Data compilation
See next points.
18.5.1. Elementary price index formulae
HICP is a Laspeyres-type index. Each price index for an elementary aggregate is calculated as a ratio of arithmetic mean prices. In scanner data the Jevons formulae is used.
18.5.2. Aggregation of different data sources
SO SR compiles HICP indices in breakdown by categories in the ECOICOP classification.
HICP in ECOICOP breakdown include in 2024 the following numbers of ECOICOP classification:
- 12 divisions
- 44 groups
- 96 classes
- 227 subclasses - starting with January 2024 - from Scanner data were added: 01.1.1.5 - Pizza a quiche, 01.1.2.5 - Other meats, 01.1.3.1 - Fresh or chilled fish, 01.1.3.4 - Frozen seafood, 01.1.6.2 - Frozen fruit, 01.1.6.4 - Preserved fruit and fruit-based products, 01.1.7.6 - Other tubers and products of tuber vegetables, 09.1.4.2 - Unrecorded recording media was cancelled
After the validation of prices the indices for the representative items are calculated. The upper level indices (i.e. indices for subclasses, classes, groups and divisions of the ECOICOP classification) are aggregated using the Laspeyres type index.
18.5.3. Chaining, linking and splicing methods
Starting with January 2005 SO SR introduced the compilation of consumer price indices by chaining using December of a previous year as a linking period. Weights for the elementary aggregates are annually revised to ensure that they reflect current expenditure patterns and consumer behaviour. In order to be able to link the old and the new series, an overlap (link) period is needed in which the index has to be calculated using both the old and the new set of weights. SO SR stated December of the previous year to be the link period. The aggregated indices for overall HICP and for COICOP/HICP categories and ECOICOP categories are calculated based on December of the previous year = 100 and then they are linked to the basis of the average of the year 2015 using the indices for December of the previous year based on average of the year 2015=100.
18.5.4. Quality adjustments and replacements
Restricted from publication18.5.5. Seasonal items
Until 2010, SO SR used for all seasonal items the carry-forwarded last-observed price in all out-of-season months.
SO SR introduced Commission Regulation No. 330/2009 (repealed and replaced by Commission Implementing Regulation (EU) 1148/2020) for the treatment of selected seasonal goods during the 2010 year.
SO SR started to provide indices with modified methodology to Eurostat since January 2011 (All-Seasonal Estimation).
18.6. Adjustment
See next point.
18.6.1. Seasonal adjustment
The HICP is not seasonally adjusted.
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 of the source data is ensured by adhering to a common methodology for determining prices and data sources for the calculation of weighting schemes. Data from National Account data, Household Budget Survey data and external sources are used for weights' calculation.
Prices are obtained by price collection by internal SO SR employees in shops and service operations, via the Internet and telephone. The prices of selected representative items are also obtained through central data collection. Sufficient coverage and timeliness are ensured. From 2024, prices for food and non-alcoholic beverages are calculated using scanner data, data for the second and third week of the monitored month are included in the calculation.
The accuracy of HICP is generally considered to be high.
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 comparable over time. There have been several improvements in methodology since HICP was introduced with the aim of improving reliability and comparability of the HICP. These changes may have introduced breaks in time series. However back calculations under the newer standards were performed when appropriate basic data was available.