Consumer Price Index: Harmonized Prices: Services: Total for Austria
AUTCPHPSE01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.50
Year-over-Year Change
66.67%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Services: Total for Austria measures the change in prices of services in Austria, as part of the broader Harmonized Index of Consumer Prices. This metric is crucial for analyzing inflation and informing economic policy decisions.
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
The Harmonized Index of Consumer Prices (HICP) is a standardized measure of consumer price inflation across European Union countries. The Services component tracks changes in the prices of various service sectors, providing insight into inflationary pressures in the Austrian economy.
Methodology
The data is collected through surveys of consumer purchases and calculated as a weighted average price index.
Historical Context
This metric is used by the European Central Bank and Austrian policymakers to monitor price stability and guide monetary policy.
Key Facts
- The base year for the index is 2015 = 100.
- Austria is a member of the Eurozone and the European Union.
- Services account for approximately 60% of Austria's GDP.
FAQs
Q: What does this economic trend measure?
A: This metric measures the change in prices of various service sectors in Austria, as part of the Harmonized Index of Consumer Prices (HICP).
Q: Why is this trend relevant for users or analysts?
A: The Services component of the HICP provides crucial insight into inflationary pressures in the Austrian economy, which is essential for policymakers and analysts monitoring price stability.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer purchases and calculated as a weighted average price index.
Q: How is this trend used in economic policy?
A: This metric is used by the European Central Bank and Austrian policymakers to monitor price stability and guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Services: Total for Austria (AUTCPHPSE01GPM), retrieved from FRED.