Consumer prices

The Consumer Price Index for the whole nation (NIC) is based on the entire present population’s consumption.
The Harmonised index of Consumer Prices (HICP), calculated according to the EU
regulations in force, is used for the comparison of inflation between Member States and as a key indicator for the monetary policy of the European Central Bank.
Consumer price indices are calculated using a chained Laspeyres formula, in which the basket of products and the weighting system are updated annually. Monthly indices for the current year are calculated with reference to December of the previous year (calculation base) and subsequently chained over the period chosen as a reference base in order to be able to measure price trends over a period of time longer than a year.