Consumer Price Index: Transport (COICOP 07): Total for Czech Republic
CZECP070000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.97
Year-over-Year Change
27.06%
Date Range
1/1/1995 - 7/1/2023
Summary
The Consumer Price Index: Transport (COICOP 07): Total for the Czech Republic measures changes in the prices of transportation goods and services for Czech consumers. This key economic indicator is closely watched by policymakers to assess inflation pressures and the overall 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 CPI Transport index is a subcomponent of the broader Consumer Price Index, which tracks the weighted average change in prices paid by Czech consumers for a basket of consumer goods and services. The Transport category includes items like vehicle purchases, fuel, public transportation, and other travel-related costs.
Methodology
The Czech Statistical Office collects price data from a sample of businesses and households to calculate the CPI Transport index on a monthly basis.
Historical Context
The CPI Transport index is a important input for the Czech National Bank's monetary policy decisions and economic forecasting.
Key Facts
- The CPI Transport index has a weight of 13.31% in the overall Czech CPI basket.
- Transportation costs made up 14.7% of total household expenditures in the Czech Republic in 2021.
- The CPI Transport index reached a record high of 127.1 in June 2022 amid surging fuel and vehicle prices.
FAQs
Q: What does this economic trend measure?
A: The CPI Transport index measures changes in the prices of transportation goods and services purchased by consumers in the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: The CPI Transport index is a key indicator of inflationary pressures and the cost of living for Czech consumers, making it highly relevant for policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The Czech Statistical Office collects price data from a sample of businesses and households to calculate the monthly CPI Transport index.
Q: How is this trend used in economic policy?
A: The CPI Transport index is a crucial input for the Czech National Bank's monetary policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The CPI Transport index is published monthly with a typical 2-week lag, providing timely data for policymakers and analysts.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Czech Republic (CZECP070000IXNBQ), retrieved from FRED.