|
|
| |
1996 |
1997 |
1998 |
1999 |
2000 |
| Inflation rate |
% change over the previous year |
| Consumer price index +++ |
19,8 |
9,3 |
8,8 |
3,1 |
3,9 |
+++ Changes in Methodology: PROXY HICP since 1996 (see methodological notes).
As part of the preparations for the common currency the EU Member States (MSs) have designed a new consumer price index in order to comply with the obligations of the EU Treaty. The aim was to produce CPIs comparable between Member States. The main task was to harmonise methodologies and coverage. The result was the Harmonized Index of Consumer Prices (HICP). A similar exercise has been started with Candidate Countries (CC). In respect to enlargement, it is equally important that their economic performance is assessed on the basis of comparable indices. Some progress has already been made towards adapting the new rules. Since January 1999 CCs report monthly to Eurostat so-called proxy HICPs that are based on national CPIs but adapted to the HICP coverage. They are not yet fully compliant with the HICPs of the MSs. In the table, the proxy HICPs are back-calculated to 1995 (rates from 1996).
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