Core CPI Euro-Zone
The CPI is also expressed as Core CPI, a similar measure that excludes energy and food in the basket of goods for the reason that items are highly volatile in price and can distort the CPI. Some market participants believe that Core CPI provides a better representation of inflation. The headline figures for the Euro-zone Inflation Index are a monthly and annualized percentage change.
Note: The index is expressed in percentage terms with the previous year set as the base measurement year. For example, if the index shows 103% in 2006, the HICP has increased by 3% compare to the base year 2005. The overall Consumer Price Index data for the twelve European Union member countries is referred to as the Harmonized Price Index (HICP). Also, all Euro-zone price indices tends to overstate the actual level of inflation because they do not take into account the consumer ability to substitute less costly goods outside of the CPI basket for goods whose prices have risen inside the basket . “
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