Harmonized Index of Consumer Prices: Maintenance and Repair of Personal Transport Equipment for Romania
CP0723ROM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
181.39
Year-over-Year Change
11.00%
Date Range
12/1/2000 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Maintenance and Repair of Personal Transport Equipment in Romania measures changes in the prices paid by consumers for services related to maintaining and repairing personal vehicles. This metric is a key indicator of inflation and cost-of-living trends.
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 specifically tracks the prices of services like vehicle inspections, tune-ups, and repairs. This data helps economists and policymakers assess broader price dynamics and the affordability of personal transportation.
Methodology
The HICP is calculated based on a representative basket of consumer goods and services, with prices collected directly from retailers and service providers.
Historical Context
The HICP is used by the European Central Bank and national governments to monitor inflation and guide economic and monetary policy decisions.
Key Facts
- The HICP has been the EU's primary inflation measure since 1997.
- Romania joined the HICP system in 1997 after its transition to a market economy.
- Vehicle maintenance and repair costs account for around 3.5% of the Romanian consumer price index.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Maintenance and Repair of Personal Transport Equipment in Romania tracks changes in the prices paid by consumers for vehicle maintenance and repair services.
Q: Why is this trend relevant for users or analysts?
A: This HICP component provides important insights into broader inflation and cost-of-living dynamics, as vehicle maintenance and repair are essential expenses for many households.
Q: How is this data collected or calculated?
A: The HICP is calculated based on a representative basket of consumer goods and services, with prices collected directly from retailers and service providers.
Q: How is this trend used in economic policy?
A: The HICP is used by the European Central Bank and national governments to monitor inflation and guide economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is typically published on a monthly basis with a short lag, providing timely insights into price trends.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Maintenance and Repair of Personal Transport Equipment for Romania (CP0723ROM086NEST), retrieved from FRED.