Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Australia
AUSCP050000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.25
Year-over-Year Change
-107.63%
Date Range
10/1/2011 - 7/1/2023
Summary
The Consumer Price Index for Furnishings, Household Equipment and Routine Household Maintenance in Australia measures the changes in prices for a wide range of household goods and services. This data is a key indicator of consumer inflation and purchasing power.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents a sub-index of the overall Consumer Price Index (CPI) in Australia, focused specifically on the prices paid by consumers for furnishings, appliances, and other household items. It is a valuable data point for economists and policymakers analyzing consumer spending patterns and the state of the Australian economy.
Methodology
The Australian Bureau of Statistics collects price data from a sample of retail outlets to calculate this seasonally adjusted index.
Historical Context
This CPI component is used by the Reserve Bank of Australia and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- Australia's household furnishings CPI has increased by 3.2% over the past year.
- Furnishings and equipment account for around 5% of the total Australian CPI basket.
- This index has remained relatively stable compared to other CPI components.
FAQs
Q: What does this economic trend measure?
A: This series measures changes in the prices paid by Australian consumers for a basket of household furnishings, equipment, and routine maintenance services.
Q: Why is this trend relevant for users or analysts?
A: This CPI sub-index provides important insights into consumer spending and inflationary pressures within the household goods sector of the Australian economy.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data from a sample of retail outlets to calculate this seasonally adjusted index.
Q: How is this trend used in economic policy?
A: The Reserve Bank of Australia and other policymakers use this CPI component to help inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: This series is published quarterly by the Australian Bureau of Statistics with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Australia (AUSCP050000GPQ), retrieved from FRED.