Article 1 Aim
The aim of this Regulation is to establish minimum standards for price collection periods in order to improve the comparability, reliability and relevance of HICPs.
Article 2 Representation
The HICP is a sample statistic which shall represent the average change in prices between the calendar month of the current index and the period to which it is compared.
Article 3 Minimum standards for price collection
1. Price collection shall take place across at least a one working week period at, or near, the middle of the calendar month to which the index pertains. 2. Where products are known to typically show sharp and irregular price changes within the same month, price collection shall take place over a period of more than one working week. This rule shall apply in particular to the following products: (a) energy products; and (b) fresh food, such as fruit and vegetables.
Article 4 Implementation
The provisions of this Regulation shall be implemented in December 2007 at the latest and take effect with the index for January 2008.
Article 5 Entry into force
This Regulation shall enter into force on the 20th day following its publication in the Official Journal of the European Union .