Harmonized Index of Consumer Prices: Hairdressing Salons and Personal Grooming Establishments for European Union (28 Countries)
CP1211EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.14
Year-over-Year Change
2.46%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices for Hairdressing Salons and Personal Grooming Establishments measures price changes in the European Union (28 countries) for this service category. It is a key indicator of inflation and consumer spending trends within the EU.
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
This index tracks the prices paid by consumers for hair care and other personal grooming services across the European Union. It is an important component of the overall Harmonized Index of Consumer Prices, which is used by policymakers to monitor and manage inflation throughout the EU.
Methodology
The data is collected through surveys of prices charged by service providers in EU member states.
Historical Context
Economists and policymakers analyze this index to understand trends in consumer demand and the cost of living within the European Union.
Key Facts
- The index has a base year of 2015 = 100.
- Hairdressing and personal grooming services account for approximately 1% of the total EU consumer price index.
- Prices in this sector have risen by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices charged by hairdressing salons and other personal grooming establishments across the European Union.
Q: Why is this trend relevant for users or analysts?
A: This index is an important component of the broader Harmonized Index of Consumer Prices, which is used by policymakers to monitor and manage inflation throughout the EU.
Q: How is this data collected or calculated?
A: The data is collected through surveys of prices charged by service providers in EU member states.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this index to understand trends in consumer demand and the cost of living within the European Union.
Q: Are there update delays or limitations?
A: The index is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Hairdressing Salons and Personal Grooming Establishments for European Union (28 Countries) (CP1211EU28M086NEST), retrieved from FRED.