Definition: Classification of Individual Consumption by Purpos...

Category: Classifications

The Classification of Individual Consumption by Purpose Adapted to the Needs of Household Budget Surveys (COICOP-HBS) is a nomenclature directly derived from the COICOP classification developed in the framework of the United Nations' System of National Accounts, but, as its full name indicates, specifically adapted to the needs of household budget surveys.

The Household Budget surveys are sample surveys carried out in most countries all over the world including in the EU Member States. The information collected via the surveys covers a wide variety of items concerning consumption expenditures and income of private households, savings and indebtedness, household characteristics etc.