Description of node <>

Subject Predicate Object <p>The LCI is the sum of the wage bill, social charges and other costs after taking into account the charge exemptions compared to&nbsp;the hourly volume of work.<br /><br />It is a chain-linked Laspeyres index with a base of 100 in 2012. It is revisable and revised on a&nbsp;quarterly basis. The ICT is calculated as an hourly rate.<br /><br />Its European harmonisation allows comparisons with the different Member States. As the European regulation stipulates, in addition to the LCI relating to salaries and charges, INSEE calculates another index: the labour cost index - salaries only (LCI - salaries only).<br /><br />Calculated based on the same data sources and for the same business sectors, the LCI - salaries only is a labour cost index excluding social charges.<br /><br />It is separate from the "basic monthly wage" (SMB). The SMB is a constant-quality labour price index; i.e. it does not take into account the effect of increases in the qualifications of employees on wages.</p>