Harmonized Index of Consumer Prices: Insurance for European Union (28 Countries)
CP1250EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.99
Year-over-Year Change
1.78%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Insurance in the European Union (28 countries) measures the change in prices paid by consumers for insurance services in the EU. It is a key economic indicator used to assess inflation and the cost of living.
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 for Insurance in the EU is a harmonized, standardized metric that allows for consistent comparison of consumer price changes across European countries. It is a subcomponent of the broader HICP, which is the primary inflation measure used by the European Central Bank to evaluate price stability.
Methodology
The data is collected through surveys of consumer expenditures and prices by national statistical agencies, then aggregated by Eurostat.
Historical Context
The HICP for Insurance is closely monitored by policymakers, central banks, and market analysts to understand the broader economic environment and consumer spending patterns.
Key Facts
- The HICP for Insurance in the EU has a base year of 2015 = 100.
- Insurance is one of 12 major expenditure categories in the HICP basket.
- The index covers both household and personal insurance expenditures.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Insurance in the European Union (28 countries) measures the change in prices paid by consumers for insurance services in the EU.
Q: Why is this trend relevant for users or analysts?
A: The HICP for Insurance is a key indicator used to assess inflation and the cost of living, and is closely monitored by policymakers, central banks, and market analysts to understand broader economic conditions and consumer spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and prices by national statistical agencies, then aggregated by Eurostat.
Q: How is this trend used in economic policy?
A: The HICP for Insurance is used by the European Central Bank and other policymakers to evaluate price stability and make monetary policy decisions affecting the Eurozone economy.
Q: Are there update delays or limitations?
A: The HICP for Insurance data is typically published on a monthly basis with a lag of around one month.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Insurance for European Union (28 Countries) (CP1250EU28M086NEST), retrieved from FRED.