Harmonized index of consumer prices, April 2002

The fall in the HICP during the last 12 months is mainly due to a reduction in the value added tax on food as of 1st of July 2001, plus the price development of electricity, petrol, clothing and airline fares. The HICP remained unchanged from March to April. The prices of petrol, clothing and footwear and rentals for housing increased, while the prices of airline fares and electricity went down. See the article for the Consumer Price Index for April for more details.

Change from February to March in the EEA

The HICP for the EEA was 110.7 in March, an increase of 0.5 per cent from February. All the countries in the EEA experienced an increase from February to March. The price growth was largest in Greece with 2.9 per cent.

The price of food and non-alcoholic beverages went up only slightly in the EEA from February to March. The price of fruits and vegetables increased the most. The price of clothing and footwear rose as well in the EEA, except for in Portugal. The price increase was particularly notable in Greece and the Netherlands. Since February the price of communications have declined.

Year-to-year change in the EEA

The HICP increased by 2.3 per cent from March 2001 to March 2002. Iceland experienced the largest increase, 9.1 per cent, followed by Ireland and Greece with consumer prices of 5.1 and 4.4 per cent respectively. Norway and Switzerland had the lowest year-to-year changes with 0.4 and 0.5 per cent. The HICP for the European Union (EU) increased by 2.3 per cent. In advance Eurostat estimated the year-to-year change in March in the eurozone at 2.5 per cent, which turned out to be the actual price growth.

From March 2001 to March 2002 the price of food and non-alcoholic beverages increased by 4.0 per cent in the EEA. Except for Norway, all the countries in the EEA experienced an increase. The rise may, among other things, be explained by a strong increase in the price of fruit and vegetables. The price of clothing and footwear increased only slightly in the EEA during the last 12 months. The price of footwear increased the most. Particularly the United Kingdom and Norway contributed to moderate the price growth of clothing and footwear with a decrease of 8.0 and 4.1 per cent respectively. From March last year to March this year the price of education in the EEA went up by 4.0 per cent. Sweden was the only country with a price decrease, 27.6 per cent.