Original scientific paper
Valerija Botrić
Abstract
Publishing of harmonized indices of consumer prices started in the European Union four years ago. The methodology of these indices is specifically designed to ascertain the most comparable measure of inflation within the Member States. An additional impulse for defining a unique measure of inflation in the European Union has come from the European Central Bank, acting as a monetary authority of the Union. The reason for this action was the fact that only harmonized index of consumer prices could establish a meaningful indicator for monitoring inflation rates in the Member States. Therefore, these indices provide necessary information for conducting monetary policy within EU. Statistical offices of the Candidate Countries must be aware of the fact that during the pre-accession stage they are required to provide evidence that they are able to implement the methodology of the harmonized index, because the production of harmonized index is a legal obligation of all Member States. As the time when Croatia will become a Candidate Country slowly approaches, increasing number of requirements for harmonization with the European Union legal system will appear. The harmonization of consumer price index is only a part of the whole process of integration.
Keywords
Hrčak ID:
18803
URI
Publication date:
10.4.2001.
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