Harmonized Index of Consumer Prices: Other Services in Respect of Personal Transport Equipment for European Union (28 Countries)
CP0724EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.33
Year-over-Year Change
1.37%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Other Services in Respect of Personal Transport Equipment in the European Union (28 countries) measures the price changes of services related to personal transportation, such as vehicle maintenance and repair. This trend is an important economic indicator used by policymakers to assess inflation and the cost of living.
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 European Union member states. The Other Services in Respect of Personal Transport Equipment index specifically tracks the costs of services related to operating and maintaining personal vehicles, providing insights into a key component of household expenditures.
Methodology
The data is collected through surveys of consumer prices across the EU member states.
Historical Context
Policymakers and economists use this HICP trend to understand changes in the cost of living and inform monetary policy decisions.
Key Facts
- The EU HICP covers over 700 consumer goods and services.
- Other Services in Respect of Personal Transport Equipment is one of 12 HICP components.
- This index has been published since 1996.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Other Services in Respect of Personal Transport Equipment measures the price changes of services related to personal transportation, such as vehicle maintenance and repair, in the European Union (28 countries).
Q: Why is this trend relevant for users or analysts?
A: This HICP trend provides important insights into a key component of household expenditures, informing policymakers and economists about changes in the cost of living and inflation.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices across the EU member states.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this HICP trend to understand changes in the cost of living and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is published on a monthly basis, with some potential for minor delays in data collection and reporting across the EU member states.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Other Services in Respect of Personal Transport Equipment for European Union (28 Countries) (CP0724EU28M086NEST), retrieved from FRED.