The implementation of COICOP 2018 in the HICP: An overview, Eurostat

In order to ensure comparability of the EU Harmonised Index of Consumer Prices (HICP) at international level, the HICP legal framework requires alignment of its classification with the UN COICOP. The UN Statistical Commission in 2018 adopted the COICOP 2018 as new standard. Eurostat and the EU countries are now working towards introducing COICOP 2018 in the HICP by early 2026. The transition to COICOP 2018 requires substantial changes in methodological, operational, IT and legal aspects for all the countries participating in the HICP. The current paper provides an overview of the planned implementation as well as on the main challenges expected. These include back series compilation and the calculation of new indices for delivery fees related to online purchases.