European Union Consumer Price Index (CPI) excl. Energy and Unprocessed Food y/y

Consumer Price Index (CPI) excl. Energy and Unprocessed Food y/y reflects a change in prices for a basket of goods and services in the current month compared to the same month a year ago.

The CPI reflects price changes from the perspective of households, i.e. end consumers of goods and services. The index calculation includes clothing, housing, household services, health, transportation, communications, recreation and culture, education, hotels and restaurants, and "miscellaneous" . This CPI type does not include energy and unprocessed food, since their prices can fluctuate greatly during the same month.

The CPI is calculated separately for each state in the euro area. Then Eurostat compiles the obtained data into the Harmonized Index of Consumer Price (HICP) according to the approved methodology. The index is calculated based on a sample of original unadjusted prices.

CPI is a key indicator for assessing inflation, used by the banks as a benchmark for upcoming interest rate decisions and other monetary policy measures. The ECB determines price stability based on the annual change in the harmonized consumer price index. The impact of the index on euro quotes is usually not significant, since the CPI is maintained at the ECB's target inflation level.