The Harmonized Index of Consumer Prices (HICP) y/y reflects the change in the prices of a consumer basket of goods and services intended for the final household consumption in the given month compared to the same month of the previous year. The data for the Italy's HICP is collected by the Italian National Institute of Statistics ISTAT according to common European rules and is harmonized across Europe to enable the compatibility of the the index in different European countries.
The index is calculated by taking into consideration the basket of goods and services that is constructed in relation to the individual peculiarities of each of the countries and the rules common to these for the weighting of the goods and services that make up this basket. There is an exclusion of lotteries and lots ("lotti"), and predictive competitions. This index enables comparison of inflation between EU member states and is a key indicator used by the European Central bank in determining the monetary policy.
There are two other indices of consumer prices, NIC and FOI, which differ from the HICP (HIPC) in the type of price taken into consideration when calculating the Consumer Price Index, or in other words the Harmonized Consumer Price Index refers to prices actually paid by consumers, while the NIC (the national consumer price index for the entire community) and FOI (the national consumer price index for workers 'and employees' families) always consider full sales prices. So for example the consumer price indices NIC and FOI consider the full prices while the HICP uses in calculations the prices of goods and services taking into account discounts and promotions.
Regarding the survey, the price data is collected on sales points, representing the main types of commercial activities that consumers attend to make their purchases.
Higher than expected HICP y/y figures are usually seen as positive for the euro quotes.
The chart of the entire available history of the "Italy Harmonised Index of Consumer Prices (HICP) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
Create your own calendar of economic events. To do this, simply specify its size and display period. You can freely use this widget on your websites. In return, we ask you to keep the provided code unchanged.
The Calendar data are provided as is. The economic news release frequency and schedule, as well as the economic parameters' values may change without our knowledge. You can use the provided information, but you accept all the risks associated with making trade decisions based on the Calendar data.