harmonised indices of consumer prices

Harmonized Indices of Consumer Prices (HICP) are standardized measures used across European countries to track changes in the prices of goods and services consumers buy, like groceries, clothing, and transportation. They provide a consistent way to compare inflation rates between countries, ensuring that differences are due to actual price changes and not measurement methods. By monitoring these indices, policymakers can understand inflation trends, make informed economic decisions, and ensure price stability within the Eurozone and beyond.