Glossary:Classification of individual consumption by purpose (COICOP)
From Statistics Explained
The Classification of individual consumption by purpose, abbreviated as COICOP, is a nomenclature developed by the United Nations Statistics Division to classify and analyze individual consumption expenditures incurred by households, non-profit institutions serving households and general government according to their purpose. It includes categories such as clothing and footwear, housing, water, electricity, and gas and other fuels.
The COICOP/HICP is a nomenclature derived from the COICOP which is used in the calculation of the harmonized index of consumer prices, an important measure of inflation in the European Union.
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