Harmonized Index of Consumer Prices (HICP)

Description

Published for the first time in Switzerland in 2008 (results from January 2008), the Harmonised Index of Consumer Prices in line with European Union standards has enhanced the portfolio of economic indices available in Switzerland for the last ten years. The HICP is one of the modules which supplements the basic information provided by the CPI and makes it possible to better respond to specific user needs, particularly the needs of groups interested in international inflation comparisons. Designed according to European Union norms, the Swiss HICP is first and foremost an indicator for comparing inflation in Switzerland with that of its European neighbours. It does not replace the customary applications of the CPI which is used for compensating inflation, for deflating statistical data or as a basis for decisions about economic policy. While not intended to replace the CPI, the HICP is derived from it. However, harmonising the Consumer Price Index has called for various adaptations. This publication brings together the methodological foundations of the current HICP using the base 2015=100 points and the current weighting.