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HICP
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). 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 indices of member states who have adopted the euro. The primary goal of the ECB is to maintain price stability, defined as keeping the year on year increase HICP below but close to 2% for the medium term. In order to do that, the ECB can control the short-term interest rate through Eonia, the European overnight index average, which affects market expectations. The HICP is also used to assess the convergence criteria on inflation which countries must fulfill in order to adopt the euro. In the United Kingdom, the HICP is called the CPI and is used to set the inflation target of the Bank of England. Comparison with the United States The HICP differs from the United States Consumer Price ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Convergence Criteria
The euro convergence criteria (also known as the Maastricht criteria) are the criteria which European Union member states are required to meet to enter the third stage of the Economic and Monetary Union (EMU) and adopt the euro as their currency. The four main criteria, which actually comprise five criteria as the "fiscal criterion" consists of both a "debt criterion" and a "deficit criterion", are based on Article 140 (ex article 121.1) of the Treaty on the Functioning of the European Union. Full EMU membership is only open to EU member states. However, the European microstates of Andorra, Monaco, San Marino and the Vatican City, which are not members of the EU, have signed monetary agreements with the EU which allow them officially to adopt the euro and issue their own variant of euro coins. These states had all previously used one of the eurozone currencies replaced by the euro, or a currency pegged to one of them. These states are not members of the eurozone and do not g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Division Of International Labor Comparisons
The International Labor Comparisons Program (ILC) of the U.S. Bureau of Labor Statistics (BLS) adjusts economic statistics (with an emphasis on labor statistics) to a common conceptual framework in order to make data comparable across countries. Its data can be used to evaluate the economic performance of one country relative to that of other countries and to assess international competitiveness. Since 2014, the Bureau of Labor Statistics has discontinued this program, but The Conference Board continues to publish the majority of the data series. History Precursors of the International Labor Comparisons Program The first commissioner of the Bureau of Labor Statistics, Carroll Wright, began the BLS tradition of international comparisons. He sent members of his staff to Europe to collect information on foreign labor force trends. In 1898, BLS published a report that compared wages in the United States to those in Europe and in 1902 it published a report that described ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Division Of International Labor Comparisons
The International Labor Comparisons Program (ILC) of the U.S. Bureau of Labor Statistics (BLS) adjusts economic statistics (with an emphasis on labor statistics) to a common conceptual framework in order to make data comparable across countries. Its data can be used to evaluate the economic performance of one country relative to that of other countries and to assess international competitiveness. Since 2014, the Bureau of Labor Statistics has discontinued this program, but The Conference Board continues to publish the majority of the data series. History Precursors of the International Labor Comparisons Program The first commissioner of the Bureau of Labor Statistics, Carroll Wright, began the BLS tradition of international comparisons. He sent members of his staff to Europe to collect information on foreign labor force trends. In 1898, BLS published a report that compared wages in the United States to those in Europe and in 1902 it published a report that described ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Price Index
A consumer price index (CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time. Overview A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, being combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the index. It is one of several price indices calculated by most national statistical agencies. The annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index (i.e. adjust for the effect of inflation) the real value of wages, salaries, and pensions; to regulate prices; and to deflate monetary magnitudes to show changes in real values. In most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Price Index
A consumer price index (CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time. Overview A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, being combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the index. It is one of several price indices calculated by most national statistical agencies. The annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index (i.e. adjust for the effect of inflation) the real value of wages, salaries, and pensions; to regulate prices; and to deflate monetary magnitudes to show changes in real values. In most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Stability
Price stability is a goal of monetary and fiscal policy aiming to support sustainable rates of economic activity. Policy is set to maintain a very low rate of inflation or deflation. For example, the European Central Bank (ECB) describes price stability as a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the Euro area of below 2%. However, by referring to "an increase in the HICP of below 2%" the ECB makes clear that not only persistent inflation above 2% but also deflation (i.e. a persistent decrease of the general price level) are inconsistent with the goal of price stability. In the United States, the Federal Reserve Act (as amended in 1977) directs the Federal Reserve to pursue policies promoting "maximum employment, stable prices, and moderate long-term interest rates". The Fed long ago determined that the best way to meet those mandates is to target a rate of inflation of around 2%; in 2011 it officially adopted a 2% annual increase in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurostat
Eurostat ('European Statistical Office'; DG ESTAT) is a Directorate-General of the European Commission located in the Kirchberg, Luxembourg, Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statistical information to the institutions of the European Union (EU) and to promote the harmonisation of statistical methods across its Member state of the European Union, member states and Enlargement of the European Union, candidates for accession as well as European Free Trade Association, EFTA countries. The organisations in the different countries that cooperate with Eurostat are summarised under the concept of the European Statistical System. Organisation Eurostat operates pursuant tRegulation (EC) No 223/2009 Since the swearing in of the von der Leyen Commission in December 2019, Eurostat is allocated to the portfolio of the European Commissioner for Economic and Financial Affairs, Taxation and Customs, European Commissioner for the Ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The European Union
The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the third largest economy in the world in nominal terms, after the United States and China, and the third one in purchasing power parity (PPP) terms, after China and the United States. The European Union's GDP estimated to be around $16.6 trillion (nominal) in 2022 representing around one sixth of the global economy. The euro is the second largest reserve currency and the second most traded currency in the world after the United States dollar. The euro is used by 19 of its members, overall, it is the official currency in 25 countries, in the eurozone and in six other European countries, officially or de facto. The European Union economy consists of an internal market of mixed economies based on free market and advanced social models. For instance, it includes an internal single market with free movement of goods, services, capital, and labor. The GDP per capita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Union Index Of Consumer Prices
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. References See also * * |
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's most important central banks. The ECB Governing Council makes the projects for the monetary policy for the European Union with suggestions and recommendations and to the Eurozone with more direct applications of such policies, it also administers the foreign exchange reserves of EU member states in the Eurozone, engages in foreign exchange operations, and defines the intermediate monetary aims and objectives, and also the common interest rates for the EU. The ECB Executive Board makes policies and decisions of the Governing Council, and may give direction to the national central banks, especially when doing so for the Eurozone central banks. The ECB has the exclusive right to authorise the issuance of euro banknotes. EU member states can issue their langu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kilobyte
The kilobyte is a multiple of the unit byte for digital information. The International System of Units (SI) defines the prefix '' kilo'' as 1000 (103); per this definition, one kilobyte is 1000 bytes.International Standard IEC 80000-13 Quantities and Units – Part 13: Information science and technology, International Electrotechnical Commission (2008). The internationally recommended unit symbol for the kilobyte is kB. In some areas of information technology, particularly in reference to solid-state memory capacity, ''kilobyte'' instead typically refers to 1024 (210) bytes. This arises from the prevalence of sizes that are powers of two in modern digital memory architectures, coupled with the accident that 210 differs from 103 by less than 2.5%. A kibibyte is defined by Clause 4 of IEC 80000-13 as 1024 bytes. Definitions and usage Base 10 (1000 bytes) In the International System of Units (SI) the prefix '' kilo'' means 1000 (103); therefore, one kilobyte is 1000 bytes. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Portable Document Format
Portable Document Format (PDF), standardized as ISO 32000, is a file format developed by Adobe in 1992 to present documents, including text formatting and images, in a manner independent of application software, hardware, and operating systems.Adobe Systems IncorporatedPDF Reference, Sixth edition, version 1.23 (53 MB) Nov 2006, p. 33. Archiv/ref> Based on the PostScript language, each PDF file encapsulates a complete description of a fixed-layout flat document, including the text, fonts, vector graphics, raster images and other information needed to display it. PDF has its roots in "The Camelot Project" initiated by Adobe co-founder John Warnock in 1991. PDF was standardized as ISO 32000 in 2008. The last edition as ISO 32000-2:2020 was published in December 2020. PDF files may contain a variety of content besides flat text and graphics including logical structuring elements, interactive elements such as annotations and form-fields, layers, rich media (including video ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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