Consumer Price Index: Total Services for Hungary
CPSETT01HUA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.56
Year-over-Year Change
53.31%
Date Range
1/1/1980 - 1/1/2017
Summary
The Consumer Price Index: Total Services for Hungary measures the change in prices of services consumed by Hungarian households. It is a key indicator of inflation and consumer purchasing power in the Hungarian 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 Consumer Price Index: Total Services for Hungary is a monthly indicator that tracks the prices of a broad basket of services, including transportation, healthcare, housing, and recreation. It is widely used by economists, policymakers, and investors to assess inflationary pressures and the overall health of the Hungarian consumer sector.
Methodology
The data is collected by the Hungarian Central Statistical Office through surveys of service providers and consumers.
Historical Context
Changes in the Consumer Price Index for Services are closely monitored by the Hungarian National Bank as it formulates monetary policy and inflation targets.
Key Facts
- The base year for the Hungarian CPI for Services is 2020.
- Services account for around 55% of the Hungarian consumer price basket.
- The index reached its highest level on record in 2022.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Total Services for Hungary measures the change in prices of a broad basket of services consumed by Hungarian households.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and consumer purchasing power in the Hungarian economy, making it important for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected by the Hungarian Central Statistical Office through surveys of service providers and consumers.
Q: How is this trend used in economic policy?
A: Changes in the Consumer Price Index for Services are closely monitored by the Hungarian National Bank as it formulates monetary policy and inflation targets.
Q: Are there update delays or limitations?
A: The Consumer Price Index for Services in Hungary is published monthly with a typical lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Total Services for Hungary (CPSETT01HUA661N), retrieved from FRED.