Harmonized Index of Consumer Prices: Cultural Services for Romania
CP0942ROM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.36
Year-over-Year Change
4.41%
Date Range
12/1/2000 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices for Cultural Services in Romania measures the changes in prices of cultural goods and services consumed by households. This indicator is crucial for understanding inflation and consumer spending trends in the Romanian economy.
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 Harmonized Index of Consumer Prices (HICP) is a standardized measure of inflation used across the European Union. The Cultural Services component tracks price changes for cultural activities, entertainment, and related services, providing insights into a key sector of consumer expenditure.
Methodology
The data is collected through a survey of consumer prices across Romania and aggregated by Eurostat.
Historical Context
The HICP Cultural Services index is used by policymakers and economists to assess inflationary pressures and consumer behavior.
Key Facts
- The base year for the HICP Cultural Services index is 2015.
- Romania joined the European Union in 2007 and began reporting HICP data.
- Cultural services account for approximately 3% of the total Romanian consumer basket.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices for Cultural Services in Romania measures the changes in prices of cultural goods and services consumed by households in the country.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures and consumer spending patterns within the cultural sector of the Romanian economy, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through a survey of consumer prices across Romania and aggregated by Eurostat.
Q: How is this trend used in economic policy?
A: The HICP Cultural Services index is used by policymakers and economists to assess inflationary pressures and consumer behavior, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is published monthly by Eurostat with a relatively short delay, making it a timely indicator of economic conditions.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Cultural Services for Romania (CP0942ROM086NEST), retrieved from FRED.