Harmonized Index of Consumer Prices: Furniture and Furnishings for European Union (28 Countries)
CP0511EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.69
Year-over-Year Change
0.74%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Furniture and Furnishings tracks changes in the prices paid by consumers for these household items across the European Union. This key economic indicator provides insights into consumer spending patterns and overall inflation.
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 Furniture and Furnishings is a subindex of the broader HICP, which measures the average change in prices for a basket of consumer goods and services. This specific index focuses on tracking price movements in the furnishings sector, offering valuable data for economists and policymakers assessing the health of the European economy.
Methodology
The data is collected through surveys of consumer prices conducted by national statistical agencies across the EU.
Historical Context
Trends in the HICP for Furniture and Furnishings are closely monitored by the European Central Bank and other policymakers to inform monetary policy decisions.
Key Facts
- The HICP for Furniture and Furnishings uses 2015 as the base year.
- This index covers a wide range of household furnishings, from sofas to kitchen appliances.
- Prices are harmonized across the 28 EU member states to ensure comparability.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Furniture and Furnishings tracks changes in the prices paid by consumers for household furnishings and appliances across the European Union.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into consumer spending patterns and overall inflation within the EU, which is crucial for economic policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices conducted by national statistical agencies across the 28 EU member states.
Q: How is this trend used in economic policy?
A: Trends in the HICP for Furniture and Furnishings are closely monitored by the European Central Bank and other policymakers to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The HICP for Furniture and Furnishings is published monthly, with a typical delay of around 2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Furniture and Furnishings for European Union (28 Countries) (CP0511EU28M086NEST), retrieved from FRED.