Consumer Price Index: OECD Groups: Services: Total for Switzerland
CHECPGRSE01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.42
Year-over-Year Change
81.85%
Date Range
2/1/1970 - 12/1/2023
Summary
The Consumer Price Index: OECD Groups: Services: Total for Switzerland measures changes in the prices of services in Switzerland, a key indicator of inflation and economic conditions.
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 index tracks the prices of a basket of services consumed by households in Switzerland, including housing, transportation, healthcare, and recreation. It is a widely used metric for assessing the overall cost of living and the purchasing power of the Swiss franc.
Methodology
The data is collected through surveys of businesses and households by the Swiss Federal Statistical Office.
Historical Context
This index is closely monitored by the Swiss National Bank and other policymakers to guide monetary policy and economic decision-making.
Key Facts
- Switzerland has one of the highest costs of living in the world.
- The services sector accounts for over 70% of Switzerland's GDP.
- The CPI for services is a key input for the Swiss National Bank's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Services in Switzerland measures changes in the prices of a basket of services consumed by households in the country.
Q: Why is this trend relevant for users or analysts?
A: This index is a crucial indicator of inflation and the overall cost of living in Switzerland, which is important for consumers, businesses, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the Swiss Federal Statistical Office.
Q: How is this trend used in economic policy?
A: The Swiss National Bank and other policymakers closely monitor this index to guide monetary policy and make economic decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and the basket of services is periodically updated to reflect changes in consumer spending patterns.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Services: Total for Switzerland (CHECPGRSE01GPM), retrieved from FRED.