EURUSD 1.1754 USDJPY 113.33 USDCAD 1.2855 EURCZK 25.611 USDCZK 21.784 EURPLN 4.2064 USDPLN 3.5788
EURUSD 1.1754 USDJPY 113.33 USDCAD 1.2855 EURCZK 25.611 USDCZK 21.784 EURPLN 4.2064 USDPLN 3.5788

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The HICP is more popularly known as inflation measuring the growth level of prices

Country:Eurozone
Impact:medium
Current value:0.2
Last value:0.9
Change: 0.7 Loss
Minimum value: -1.1 (Jan 2014)
Maximum value: 1.4 (Mar 2011)
HICP Eurozone

Rule of thumb

The HICP, in opposition to the CPI of United States, does not have a fixed-basket of items. It is based on fixed “consumption segments” instead

The HICP (Harmonised Index of Consumer Prices) is the equivalent indicator of the American CPI, representing the development of price changes in goods and services. Most of all, consumer goods and services purchased by consumers by means of monetary transactions, are included in the HICP.

 

The HICP only takes into consideration the actual monetary flow, which is important to remember when analysing some sectors, such as healthcare, when the state financially participates in the costs of medicine. In the case of medicine, only the actual payment made by the consumer is taken into account, disregarding the value subsidised by the state.


One other important characteristic of the HICP is that it is not a strict fixed-basket index like the CPI. It rather includes fixed “consumption segments” (sets of consumer expenditures that serve a common purpose), where the composition of items included in the given segment may be subject to revision from time to time.


The HICP is another popular economic indicator that is rather difficult  to interpret. In general, a rise of inflation decreases the purchasing power, and as such is rather disadvantageous for the currency. On the other hand, an increase of inflationary pressure may lead to expectations of an increase  in nominal interest rates, and as such increase the demand for the given currency.

 

Periodicity of publication

The HICP data  is published every month by Eurostat - the statistical office of the European communities.

21.01.2016 | EMU: Draghi, PMI, USA: Prodeje existujících domů

Lze předpokládat potvrzení stávající silné monetární expanze hlavně kvůli slabosti inflace resp. komentářů k lednovému zasedání ECB monetární politiky.

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18.01.2016 | EMU: ZEW, ECB, Draghi, PMI, USA: CPI, Index Philadelphi

Eurozóna: Tento týden trh bude konfrontován s následujícími událostmi – lednový Index ZEW sentimentu ekonomických očekávání Německa/eurozóny (úterý), Rozhodnutí ECB monetární politiky (čtvrtek), Vystoupení prezidenta ECB Draghiho v diskusi na Světovém ekonomickém fóru v Davosu (pátek) a lednový Index PMI zpracovatelského průmyslu a služeb eurozóny (pátek).

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14.12.2015 | Eurozóna: Vystoupení Draghiho – čekají se smíšené komentáře

ECB stále praktikuje silnou monetární expanzi. Komentáře ale již nevypadají jednoznačně ve směru posílení monetární expanze. Komentáře Draghiho zřejmě naváží na jeho poslední smíšené vystoupení – varování před nízkou inflací s reflexí ekonomického posílení.

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