Harmonized Index of Consumer Prices: Food and Non-Alcoholic Beverages for European Union (28 Countries)
CP0100EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.10
Year-over-Year Change
2.50%
Date Range
12/1/1999 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Food and Non-Alcoholic Beverages tracks changes in the prices of these essential household goods across the European Union. This metric is a key indicator of inflationary pressures and consumer 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
The HICP for Food and Non-Alcoholic Beverages is a subcomponent of the broader HICP, which measures the weighted average change in consumer prices for a basket of goods and services. This sector-specific index provides important insights into a major driver of overall consumer price inflation.
Methodology
The data is collected through consumer price surveys in EU member states and aggregated by Eurostat.
Historical Context
Policymakers and analysts use this index to assess the state of the EU consumer economy and guide monetary and fiscal decisions.
Key Facts
- The EU HICP Food & Non-Alcoholic Beverages index has a base year of 2015 = 100.
- This index tracks price changes for over 300 food and drink items in the EU consumer basket.
- Annual inflation in this sector reached a high of 10.6% in the EU in October 2022.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Food and Non-Alcoholic Beverages measures changes in the prices of these essential household items across the European Union.
Q: Why is this trend relevant for users or analysts?
A: This sector-specific index provides important insights into a major driver of overall consumer price inflation, which is crucial for policymakers and economists assessing the state of the EU consumer economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys in EU member states and aggregated by Eurostat.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to guide monetary and fiscal decisions, as it reflects the purchasing power and inflationary pressures faced by EU consumers.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a typical 2-3 week delay, providing timely insights on EU consumer prices.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Food and Non-Alcoholic Beverages for European Union (28 Countries) (CP0100EU28M086NEST), retrieved from FRED.