Harmonised indices of consumer prices (HICPs) are constructed in each Member State of the European Union for the purpose of international comparisons of consumer price inflation. They will also be used as part of the assessment of progress against the convergence criteria when eligibility of Member States to join the European Economic and Monetary Union is decided. HICPs have been under development by Eurostat, the European Commission’s statistical arm, in conjunction with Member States, for over four years. HICP figures for each Member State have been published monthly by Eurostat since March 1997.
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