- the classification of consumer expenditure will be updated from ECOICOP to ECOICOP 2, effective from 2026. This shift involves a restructuring of product groupings, possibly altering the values of individual group indices.
- Data continuity will be maintained throughout this transition. Historical time series have been reclassified according to the new framework, ensuring comparability of data even after 2026.
- The previous classification will no longer be used,but data up to 2025 based on the former ECOICOP version will remain accessible in an archive.
Together with the introduction of the new classification in 2026, the reference period for price indices will change to 2025 = 100. This adjustment enhances data interpretability without affecting the actual inflation rates. The reference period serves as the baseline for comparing price changes in other years. Setting the reference period to 2025 = 100 means the average price level of 2025 is designated as the starting point with a value of 100.
Changing the reference period doesn’t impact the calculation of inflation rates or their growth rates-it simply makes the statistics easier to understand and interpret, as comparisons are made against a recent and familiar timeframe.
Implementing ECOICOP 2 signifies that consumer statistics will more accurately reflect modern spending habits, making the data more understandable and comparable on a European scale.
Where to find the COICOP 2018 and ECOICOP 2 classification
Where to find the correspondence table between ECOICOP and ECOICOP 2
Understanding the Shift to ECOICOP 2: A Thorough Guide
As of 2026, a important update is coming to how consumer expenditure is categorized. The transition from ECOICOP to ECOICOP 2 represents a crucial evolution in statistical accuracy and international comparability. This change, while seemingly technical, has implications for anyone analyzing inflation, consumer behavior, or economic trends. I’ve found that understanding these changes proactively is key to interpreting economic data correctly. The core of this update lies in refining how we group and measure the goods and services that households purchase.
What is ECOICOP and Why the Change?
ECOICOP, or the european Classification of Individual Consumption by Purpose, is a standardized system used to categorize consumer spending. It’s the foundation for calculating harmonized indices of consumer prices (HICPs) across Europe. The move to ECOICOP 2 isn’t about fundamentally altering what we measure, but rather how we measure it. The original ECOICOP was developed some time ago,and the economic landscape has shifted dramatically. New consumption patterns have emerged, and existing categories needed refinement to accurately reflect current realities.
According to Eurostat data released in November 2023,household expenditure on services now accounts