Harmonized Index of Consumer Prices: Non-Durable Household Goods for European Union (28 Countries)
CP0561EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.71
Year-over-Year Change
0.84%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Non-Durable Household Goods in the European Union (EU28) measures changes in the prices of essential everyday products for households.
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 is a standardized measure of consumer price inflation across EU member states, providing a basis for international comparisons. The Non-Durable Household Goods component tracks price trends for items like cleaning supplies, toiletries, and other consumable household goods.
Methodology
The HICP data is collected through surveys of consumer expenditures and retail prices in EU countries.
Historical Context
The HICP is a key economic indicator used by the European Central Bank and policymakers to monitor and manage inflation.
Key Facts
- The HICP for the EU28 region was established in 1997.
- Non-durable household goods account for about 13% of the total HICP basket.
- Prices for non-durable household goods tend to be less volatile than durable goods.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Non-Durable Household Goods in the European Union (EU28) measures changes in the prices of essential everyday consumer products for households.
Q: Why is this trend relevant for users or analysts?
A: The HICP for non-durable household goods is a key indicator of consumer price inflation, providing valuable insights for economists, policymakers, and market analysts monitoring the EU economy.
Q: How is this data collected or calculated?
A: The HICP data is collected through surveys of consumer expenditures and retail prices in EU member countries.
Q: How is this trend used in economic policy?
A: The HICP is a crucial indicator used by the European Central Bank and policymakers to monitor and manage inflation across the EU.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Non-Durable Household Goods for European Union (28 Countries) (CP0561EU28M086NEST), retrieved from FRED.