Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Czech Republic
CZECP050000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.45
Year-over-Year Change
-293.63%
Date Range
2/1/1995 - 11/1/2023
Summary
The Consumer Price Index for Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05) measures price changes for a basket of household goods and services in the Czech Republic. It is a key indicator of consumer inflation and household spending patterns.
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
COICOP 05 tracks the prices of furniture, appliances, tools, and other items used for home maintenance and operations. It is an important component of the overall Czech Consumer Price Index, providing insights into consumer behavior and the cost of living.
Methodology
The Czech Statistical Office collects price data from a sample of retail outlets to calculate the COICOP 05 index.
Historical Context
This household-focused inflation metric helps policymakers and analysts assess the state of the Czech economy and consumer markets.
Key Facts
- COICOP 05 covers about 6% of the total Czech CPI basket.
- Prices in this category have risen by an average of 2.5% annually over the past decade.
- Household equipment is the largest component, accounting for over 60% of the COICOP 05 index.
FAQs
Q: What does this economic trend measure?
A: The COICOP 05 index measures changes in the prices of furnishings, household equipment, and routine household maintenance goods and services in the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This household-focused inflation metric provides insights into consumer spending patterns and the cost of living, which are important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The Czech Statistical Office collects price data from a sample of retail outlets to calculate the COICOP 05 index.
Q: How is this trend used in economic policy?
A: COICOP 05 data helps policymakers and analysts assess the state of the Czech economy and consumer markets, informing decisions on monetary policy, consumer protection, and other economic matters.
Q: Are there update delays or limitations?
A: The COICOP 05 index is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Czech Republic (CZECP050000GPM), retrieved from FRED.