28/2004  -  27 February 2004

 

Flash estimate

February 2004

Euro-zone inflation estimated at 1.6%

 

Euro-zone1 annual inflation2 is expected to be 1.6% in February 2004 according to a flash estimate issued today by Eurostat, the Statistical Office of the European Communities. It was 1.9% in January 20043.

Computation of flash estimates

The euro-zone inflation is measured by the Monetary Union Index of Consumer Prices (MUICP). To compute the MUICP flash estimates, Eurostat uses early price information relating to the reference month from Member States for which data are available as well as early information about energy prices.

The estimation procedure for the MUICP flash estimate issued today combines historical information with partial information on price developments in the most recent months to give a total index for the euro-zone. No detailed breakdown is available. Simulations have shown the procedure to be reliable (14 times exactly anticipating the inflation rate, 9 times differing by 0.1 and once differing by 0.2, in April 2002, over the last two years). Further information can be found in Eurostat News Release 113/2001, 5 November 2001.

Future release dates

Provisional publication dates for the coming months are:

Index for

MUICP flash estimates

News release on MUICP, EICP and Member States

February 2004

-

17 March 2004

March 2004

31 March 2004

16 April 2004

April 2004

30 April 2004

18 May 2004

 

1.     The Member States participating in the euro-zone are Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland.

2.     Annual inflation is the price change between the current month and the same month of the previous year.

3.     See News Release 27/2004 of 27 February 2004.

 

 


Issued by:

Eurostat Press Office

 

Philippe BAUTIER

 

BECH Building

L-2920 LUXEMBOURG

 

Tel: +352-4301-33 444

Fax: +352-4301-35 349

eurostat-pressoffice@cec.eu.int


For further information on data:

 

 

Carsten OLSSON

 

 

Tel: +352-4301-33 375

Fax: +352-4301-33 989

estat-hicp-methods@cec.eu.int


Eurostat News Releases on the Internet:

http://europa.eu.int/comm/eurostat/

 

 

Eurostat Data Shop Network

List of addresses:

http://europa.eu.int/comm/eurostat/

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