Monetary Union Index of Consumer Prices
Encyclopedia
The Monetary Union Index of Consumer Prices (MUICP) is a weighted average of European Monetary Union countries' HICP (Harmonised Index of Consumer Prices). It is widely used a measure of inflation
throughout the Eurozone - the countries with the Euro as their currency.
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
throughout the Eurozone - the countries with the Euro as their currency.
See also
- Harmonised Index of Consumer PricesHarmonised Index of Consumer PricesThe Harmonised Index of Consumer Prices is an indicator of inflation and price stability for the European Central Bank . It is a consumer price index which is compiled according to a methodology that has been harmonised across EU countries. The euro area HICP is a weighted average of price...
- Consumer price indexConsumer price indexA consumer price index measures changes in the price level of consumer goods and services purchased by households. The CPI, in the United States is defined by the Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of...
- InflationInflationIn economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...