14-17 May 2024
Workshop

Advancing HCPI and COICOP Implementation

Location
  • Tunis, Tunisia
Contact information
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Enhancing Expertise in Economic Classification and Inflation Measurement

In the evolving landscape of global economics, the harmonization of consumer prices and the standardization of classifications for individual consumption are pivotal. The workshop presents the essential tools and knowledge to accurately capture the changes in economic statistics. 

The sessions provide a comparative analysis between HCPI (Harmonized Consumer Prices Index) and CPI (Consumer Price Index) in Arab countries, and an in-depth overview of the data requirements essential for accurately computing the HCPI while explaining the process of building it. It sheds light on  the computation methodology for the regional HCPI, detailing the dissemination policy.

The sessions also tackle the implementation of the new COICOP 2018 (Classification of individual consumption by purpose), shedding light on substantial alterations and the introduction of new items, in comparison with the COICOP 1999 framework and explore the obstacles countries face when transitioning to the new version.

Outcome document

The workshop on economic classification and inflation measurement successfully concluded with a clear set of outcomes, reflecting the comprehensive training and hands-on sessions that participants engaged in throughout the event. The main objective was to enhance the expertise and practical skills of the participants in handling economic classifications and measuring inflation. This was particularly focused on revising the Classification of Individual Consumption According to Purpose (COICOP) and the Harmonized Consumer Price Index (HCPI) methodology. Outlined below are the principal agreements and next steps established at the close of the workshop:

  • Preparation of the HCPI data and completion of the template spanning from 2011 to 2023.
  • Reviewing the national item list classified according to COICOP 2018 and estimating expenditures for the new subclasses.
  • Initiating the collection of 2024 prices for the household consumption survey and seamlessly integrating them into the data entry tool.
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