GDP Correlation Analysis - HICP Inflation Rate in Romania, Hungary and Bulgaria

Abstract

The purpose of the present study is to make a comparative account between gross domesticproduct (GDP) and inflation rate based on the harmonized index of consumer prices (HICP). These indicators represent the main factors for measuring and comparing inflation in the MemberStates of the European Union, thus reflecting the way to handle the costs of households in the grossdomestic product. The survey was conducted over a period of eight years, namely, 2007-2014, andthe data were collected from Eurostat and processed using the Eviwes program.

Keywords

• correlation analysis
• GDP
• inflation rate
• comparative analyses