Harmonised Indices of Consumer Prices (HICPs) are designed for international comparisons of consumer price inflation. HICP is used for example by the European Central Bank for monitoring of inflation in the Economic and Monetary Union and for the assessment of inflation convergence as required under Article 121 of the Treaty of Amsterdam. For the U.S. and Japan national consumer price indices are used in the table.

Harmonised Indices of Consumer Prices (HICPs) are designed for international comparisons of consumer price inflation. HICP is used by e.g. the European Central Bank for monitoring of inflation in the Economic and Monetary Union and for the assessment of inflation convergence as required under Article 121 of the Treaty of Amsterdam.

The core inflation differential vis-à-vis the euro area is an annual data indicator measuring the HICP annual average rate of change of the all-items excluding energy, food, alcohol and tobacco (TOT_X_NRG_FOOD) aggregate of the EU member states in comparison to the euro area.

It is calculated in percentage points by subtracting the euro area (either EA21 or EA20) annual average TOT_X_NRG_FOOD rate of change from the one of the respective member state. It is also measured for the European fixed country composition aggregates for the European Union (EU27) and the euro area (EU21 and EU20) – being by definition equal to 0.0 for the latter when it is the same as the subtracted average.