The HICP - administered prices (HICP-AP) are a series of inflation indices, which were first released by Eurostat in February 2010. These new indices provide a summary of the development of administered prices (those prices directly set or influenced to a significant extent by the government), and their complement, prices which are not administered.
The HICP-AP is an important tool for analysing the causes of inflation and for forecasting inflation. It should be emphasised that these indices do not provide an exact measure of the development of administered and non-administered prices. In effect, the basic information from which these aggregate measures are derived does not fully distinguish administered and non-administered prices. HICP items which cover more than 50% administered prices are classified as administered.
For most EU Member States, the classification of individual COICOP/HICP items as administered prices is supplied by the National Statistical Institutes; for some other EU Member States, this classification was provided by the National Central Bank. For all countries, Eurostat together with the Directorate General for Economic and Financial Affairs and the European Central Bank verified the final classification. The HICP-AP series will be labelled as 'experimental' for at least one year after their first release and until the successful completion of a further verification round in early 2011.
The following six aggregates for all EU Member States, the euro area and the EU are published by Eurostat:
HICP of administered prices, of fully administered prices and of mainly administered prices.