Harmonized Index of Consumer Prices: Passenger Transport by Railway for European Union (28 Countries)
CP0731EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.81
Year-over-Year Change
-1.39%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP): Passenger Transport by Railway for European Union (28 Countries) measures price changes for rail transport services across the EU. It is a key economic indicator used to assess inflation and guide monetary policy.
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: Passenger Transport by Railway index tracks the prices consumers pay for rail transportation services within the European Union. It is part of the broader HICP, which is the EU's primary measure of consumer price inflation and a crucial economic statistic.
Methodology
The data is collected through surveys of households and businesses across the EU member states.
Historical Context
Policymakers at the European Central Bank monitor HICP trends closely to set interest rates and manage inflation.
Key Facts
- The HICP covers around 60% of consumer spending in the EU.
- Passenger rail is approximately 1% of the total HICP basket.
- Inflation data helps the ECB achieve its 2% annual price growth target.
FAQs
Q: What does this economic trend measure?
A: The HICP: Passenger Transport by Railway index measures the prices consumers pay for rail transportation services within the European Union.
Q: Why is this trend relevant for users or analysts?
A: The HICP is a crucial economic indicator used to assess inflation and guide monetary policy decisions by the European Central Bank.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses across the EU member states.
Q: How is this trend used in economic policy?
A: Policymakers at the European Central Bank monitor HICP trends closely to set interest rates and manage inflation within the Eurozone.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a lag of around 2-3 weeks.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Passenger Transport by Railway for European Union (28 Countries) (CP0731EU28M086NEST), retrieved from FRED.