Harmonized Index of Consumer Prices: Restaurants and Hotels for United States
CP1100USM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141.59
Year-over-Year Change
3.46%
Date Range
12/1/2001 - 12/1/2024
Summary
The Harmonized Index of Consumer Prices (HICP): Restaurants and Hotels for the United States measures the changes in prices paid by consumers for restaurant and hotel services. This metric is a key indicator of inflation in the hospitality industry.
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: Restaurants and Hotels index is a subcomponent of the broader HICP, which is a harmonized measure of consumer prices used across the European Union. This industry-specific index provides insight into price trends within the U.S. restaurant and hotel sectors.
Methodology
The U.S. Bureau of Labor Statistics collects price data from a sample of restaurants, hotels, and other hospitality businesses to calculate this index.
Historical Context
Economists and policymakers closely monitor the HICP: Restaurants and Hotels index to assess the health of the service industry and its impact on overall consumer prices.
Key Facts
- The HICP: Restaurants and Hotels index is a subcomponent of the broader HICP.
- The index measures price changes for restaurant meals and hotel stays.
- Economists use this index to monitor inflation in the service industry.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP): Restaurants and Hotels for the United States measures the changes in prices paid by consumers for restaurant and hotel services.
Q: Why is this trend relevant for users or analysts?
A: This industry-specific index provides important insights into price trends within the U.S. restaurant and hotel sectors, which are key components of the broader service industry and consumer economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects price data from a sample of restaurants, hotels, and other hospitality businesses to calculate this index.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor the HICP: Restaurants and Hotels index to assess the health of the service industry and its impact on overall consumer prices.
Q: Are there update delays or limitations?
A: The HICP: Restaurants and Hotels index is published monthly with minimal update delays, providing timely data for economic analysis.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Restaurants and Hotels for United States (CP1100USM086NEST), retrieved from FRED.