The HCPIs may differ from national consumer price indices which are sometimes designed for different purposes. The HCPIs are designed as a macroeconomic measure of monetary inflation, whilst some national CPIs have other purposes such as cost of living measurement, which may be more suitable for uses such as
Further information on HCPI methodology can be found from COMSTAT, one of the COMESA Secretariat websites (http://comstat.comesa.int) under HCPI Resources.
The Member States HCPIs are compiled by the Member States themselves, using harmonized methods laid down in COMESA Regulations. The aggregated COMESA figures are compiled by the COMESA Secretariat. An aggregated HCPI is known as an “HCPI-COMESA”. The aggregates are calculated as weighted averages of the national HCPIs, using as weights each country’s total household expenditure in the national accounts converted to a common currency using purchasing power parities supplied by the African Development Bank and the World Bank.
More details can be found in the monthly news releases below.