Harmonized Index of Consumer Prices: Other Services in Respect of Personal Transport Equipment for Luxembourg
CP0724LUM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.65
Year-over-Year Change
2.47%
Date Range
1/1/1996 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Other Services in Respect of Personal Transport Equipment measures changes in the cost of services related to personal transportation in Luxembourg. This metric is a key indicator of inflation and consumer spending in the transportation sector.
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 inflation across European Union countries. The Other Services in Respect of Personal Transport Equipment component tracks the prices of maintenance, repair, and other services for personal vehicles. This data provides insights into consumer behavior and price dynamics in the transportation market.
Methodology
The HICP is calculated based on a representative basket of consumer goods and services, with data collected through surveys of retailers and service providers.
Historical Context
Policymakers and analysts use this HICP component to assess inflationary pressures and consumer trends in the transportation sector.
Key Facts
- The HICP is a harmonized measure of inflation across the European Union.
- Other Services in Respect of Personal Transport Equipment is a component of the overall HICP basket.
- This data provides insights into consumer spending and price dynamics in the transportation sector.
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 changes in the cost of services related to personal transportation in Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: This HICP component provides insights into inflationary pressures and consumer behavior in the transportation sector, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The HICP is calculated based on a representative basket of consumer goods and services, with data collected through surveys of retailers and service providers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this HICP component to assess inflationary pressures and consumer trends in the transportation sector, which informs policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a short lag, providing timely information on price changes in the transportation sector.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Other Services in Respect of Personal Transport Equipment for Luxembourg (CP0724LUM086NEST), retrieved from FRED.