Review finds Belgian CPI still ‘diverges’ from HICP
Economist compares and contrasts inflation measures
The differences between the national consumer price index (NCPI) in Belgium and the harmonised index of consumer prices (HICP) will "persist" despite a recent statistical overhaul, according to an article in the National Bank of Belgium's latest economic review.
Julien Langohr, an economist at the central bank, notes the NCPI "underwent a major overhaul" in January 2014 – a process that only takes place once every eight years.
Nonetheless, the NCPI basket "still differs considerably" from that of the HICP. "The differences are due to continuing methodological divergences, particularly at the level of demographic coverage... and the statistical source," Langhor explained.
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