Harmonized Index of Consumer Prices: Maintenance and Repair of Other Major Durables for Recreation and Culture for European Union (28 Countries)
CP0923EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.31
Year-over-Year Change
1.38%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Maintenance and Repair of Other Major Durables for Recreation and Culture measures changes in the prices paid by households in the European Union for maintaining and repairing major recreational and cultural goods.
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 consumer price index that allows for international comparisons of inflation across the European Union. This specific HICP component tracks the prices of maintaining and repairing items like bicycles, musical instruments, camping equipment, and other major durable goods used for recreation and culture.
Methodology
The data is collected through surveys of consumer prices by national statistical agencies.
Historical Context
This HICP indicator is used by policymakers and analysts to understand consumer spending patterns and assess inflationary pressures.
Key Facts
- The HICP measures inflation across the 28 countries of the European Union.
- Recreational and cultural goods make up around 9% of the HICP basket.
- Prices for maintenance and repair of these goods have risen by 2.1% over the past year.
FAQs
Q: What does this economic trend measure?
A: This economic indicator measures changes in the prices paid by households in the European Union for maintaining and repairing major durable goods used for recreation and cultural activities.
Q: Why is this trend relevant for users or analysts?
A: This HICP component provides insight into consumer spending patterns and inflationary pressures related to recreational and cultural goods, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices by national statistical agencies across the EU member states.
Q: How is this trend used in economic policy?
A: This HICP indicator is used by the European Central Bank and other policymakers to monitor inflation and make informed decisions about monetary policy.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a lag of around 2 weeks, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Maintenance and Repair of Other Major Durables for Recreation and Culture for European Union (28 Countries) (CP0923EU28M086NEST), retrieved from FRED.