Spain's Harmonised Index of Consumer Prices (HICP) y/y is a statistical indicator which aims to offer a common measure of inflation and thus to enable comparison of year-over-year changes between different countries. The Harmonised Index of Consumer Prices is very similar to the Consumer Price Index in terms of the methodology and implementation. Thus data on the methodology details, statistical process aspects (such as calculation units, type and frequency), as well as publication plan and periodicity can be found in the CPI calculation methodology.
The price data is collected from a survey which is automatically created for each institution. The interviewer marks in the document the prices for goods and services from of the consumer basket, as well as the distribution of these goods and services. Each interviewer visits one place, with the exception of hypermarkets and shopping centers. About 220,000 prices received from the survey are processed on the monthly basis. The prices are further processed in central offices, indexes are calculated on their basis and are published within the first two weeks of the next month. Similar to most of European Union countries, the prices included in the CPI calculation are selected in a certain predefined manner to exclude the probability factor and to comply with the analyzed population characteristics.
The Harmonised index intends to cover the entire range of goods and services, however the calculation only includes those having the weight of no less than 1/1000 of the entire consumer basket amount. Separate groups of goods and services were added or excluded in different countries to maintain the desired level of comparability.
The chart of the entire available history of the "Spain 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.
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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.