[1] In order to do that, the ECB can control the short-term interest rate through Eonia, the European overnight index average, which affects market expectations.
First, the HICP attempts to incorporate rural consumers into the sample while the US maintains a survey strictly based on the urban population.
[8] The report concludes against immediate inclusion in 2018, because a monthly OOH price index is not yet available in all EU countries, and because it would deviate from the current definition of the HICP.
The Commission's report also indicates that contrary to what Draghi told MEPs, the ECB had opposed the proposal when consulted by Eurostat.
Early 2019, the ECB's chief economist Peter Praet nonetheless announced that work was being underway to include real estate prices into HICP: "In line with the division of responsibilities at the European level, this work is being led by the ECB in the field of financial variables and by Eurostat for the physical market variables.