We calculate indexes using the Classification of Individual Consumption According to Purpose (COICOP) system at the request of the Organisation for Economic Co-operation and Development (OECD). This research project started in 2014 and we continue to calculate and send the indexes to OECD on a monthly basis.
Like the Harmonized Index of Consumer Prices (R-HICP), the R-COICOP, developed under the auspices of the United Nations Statistics Division, facilitates international comparisons of price change. COICOP is a classification of consumption space (goods and services consumers buy), not a classification of consumers for index eligibility. Thus, it can apply to any population index target, such as total population, urban, rural, etc. The OECD is a primary user of this data and publishes numerous economic indicators, including consumer inflation, from around the world. A number of countries base their item categories on the COICOP structure.
These indexes are calculated outside of the official production system, and are at greater risk of calculation errors than the official CPI indexes. Additionally, they differ from the official indexes in both scope and aggregation, and may not have the same data quality as the official indexes we publish. Customers should be aware of the caveats and limitations of any of these products they consider using.
Where definitional differences exist between U.S. item strata and COICOP classes, factors are used to bridge between the two structures. This allocation and imputation procedure is an approximation of direct collection of COICOP item categories.
Monthly indexes are produced for the urban (U) population from December 2009. Data are usually available about 2 weeks after the release of the CPI-U. Release of indexes may be delayed due to resource availability and other constraints. Indexes for all items and all items less food and energy are calculated in addition to the 12 COICOP divisions and some additional special aggregates:
01: Food and non-alcoholic beverages
02: Alcoholic beverages and tobacco
03: Clothing and footwear
04: Housing, water, gas, electricity, and other fuels
05: Furnishings, household equipment, and routine maintenance of the house
09: Recreation and culture
11: Restaurants and hotels
12: Miscellaneous goods and services
COICOP consumer prices data are available from the OECD webpage.
Additional information is available on the Organisation for Economic Co-operation and Development What contributes to annual inflation? page, on the Eurostat COICOP HICP glossary page, or Eurostat homepage.
Last Modified Date: July 17, 2020