Harmonized Index of Consumer Prices: Maintenance and Repair of Personal Transport Equipment for European Union (28 Countries)
CP0723EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.70
Year-over-Year Change
2.97%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Maintenance and Repair of Personal Transport Equipment measures price changes in the European Union for services related to vehicle upkeep. This key indicator provides insights into consumer spending patterns and inflationary pressures.
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 the European Union. The Maintenance and Repair of Personal Transport Equipment component tracks the prices paid by consumers for services like routine car maintenance, tire changes, and other vehicle repair costs.
Methodology
The data is collected through surveys of businesses and consumers across EU member states.
Historical Context
Policymakers and analysts use this HICP component to understand household expenditures and assess the state of the broader economy.
Key Facts
- Covers 28 countries in the European Union.
- Component of the broader Harmonized Index of Consumer Prices.
- Measures price changes for vehicle repair and upkeep services.
FAQs
Q: What does this economic trend measure?
A: This HICP component measures the prices consumers pay for maintenance and repair services for their personal vehicles in the European Union.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into household spending patterns and inflationary pressures related to the personal transportation sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and consumers across EU member states.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this HICP component to understand household expenditures and assess the state of the broader economy.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological constraints of the broader Harmonized Index of Consumer Prices.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Maintenance and Repair of Personal Transport Equipment for European Union (28 Countries) (CP0723EU28M086NEST), retrieved from FRED.