Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Switzerland
CHECP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.30
Year-over-Year Change
2.76%
Date Range
12/1/1982 - 12/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Switzerland tracks the prices of dining, lodging, and other hospitality services in Switzerland. This key economic indicator provides insights into consumer spending patterns and inflationary pressures within the service sector.
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 COICOP 11 index is a component of the broader Swiss Consumer Price Index, which measures the average change in prices paid by consumers for a basket of goods and services. The restaurants and hotels subindex specifically focuses on the hospitality industry, offering policymakers and analysts a more granular view of price dynamics in this economically significant sector.
Methodology
The Swiss Federal Statistical Office collects price data from a representative sample of businesses to calculate the COICOP 11 index on a monthly basis.
Historical Context
This indicator is closely monitored by the Swiss National Bank and other economic authorities to assess inflationary risks and guide monetary policy decisions.
Key Facts
- The COICOP 11 index has a base year of 2015.
- Switzerland's hospitality sector accounts for over 4% of GDP.
- Inflation in the restaurants and hotels segment has outpaced overall Swiss CPI in recent years.
FAQs
Q: What does this economic trend measure?
A: The COICOP 11 index measures the changes in prices for goods and services related to restaurants, cafes, accommodation, and other hospitality services in Switzerland.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into inflationary pressures and consumer spending patterns within Switzerland's vital hospitality industry, which is a key driver of economic activity.
Q: How is this data collected or calculated?
A: The Swiss Federal Statistical Office collects price data from a representative sample of businesses to calculate the COICOP 11 index on a monthly basis.
Q: How is this trend used in economic policy?
A: The COICOP 11 index is closely monitored by the Swiss National Bank and other policymakers to assess inflationary risks and guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The COICOP 11 index is published monthly with minimal delay, providing timely data for economic analysis and policymaking.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Switzerland (CHECP110000IXNBM), retrieved from FRED.