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Harmonized indices of consumer prices in September 2021
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Harmonized indices of consumer prices in September 2021

Last update: 20.10.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Consumer prices and prices of production statistics
Publish Date: 20.10.2021

The average annual HICP inflation rate of the harmonized index of consumer prices (expressed as the change in the average of the harmonized index of consumer prices over the last 12 months compared with the average of the previous 12 months) was 2 % in September 2021, which is 0.2 percentage points more than its value in August 2021.

In September 2021, the year-on-year inflation, comparing the price level of the harmonized index of consumer prices in September 2021 to September 2020, increased to 4 %. In August 2021, its value was 3.3 %.

The month-on-month HICP inflation reached 0.8 % in September 2021.  The month-on-month and year-on-year increases in September harmonized inflation compared with its values in the previous month were mainly due to higher prices in the division of COICOP classification Restaurants and hotels, namely an increase in the prices of meals in canteens by 32.8 %, which also includes school meals. The increase in the prices of school meals was caused by a legislative change - specifically the restriction of state funding of lunches in primary schools.

Prices increased in the following divisions of the COICOP classification: Restaurants and hotels (positive contribution 0.56 percentage point to 0.8 % month-on-month inflation), Education (positive contribution of 0.06 p.p.), Clothing and footwear (positive contribution 0.05 p.p.), Food and non-alcoholic beverages (positive contribution 0.04 p.p.), Housing, water, electricity, gas and other fuels (positive contribution 0.04 p.p.), Furniture, household equipment and routine household maintenance (positive contribution of 0.02 p.p.).

Data on Harmonized Indices of Consumer Prices (HICP) are published on the day of their publication by Eurostat; usually a few days after the national CPI inflation release. This is inflation according to the uniform EU methodology in order to ensure the mutual comparability of consumer price indices between countries. Consumer baskets differ in part. The HICP, unlike the CPI, does not include the components "Imputed rents" and selected items related to major repairs and household maintenance, which results in certain differences in the weights of the components.

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