Household final consumption expenditure

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Household final consumption expenditure (HFCE) is a price index which represents consumer spending. It consists of the expenditure, including imputed expenditure, incurred by resident households on individual consumption goods and services, including those sold at prices that are not economically significant. It also includes imputed rent for the provision of owner-occupied housing services, and consumption of own production. The household sector covers not only those living in traditional households, but also those people living in communal establishments, such as retirement homes, boarding houses and prisons.