Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Czech Republic
CZECP110000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.45
Year-over-Year Change
-47.69%
Date Range
2/1/1995 - 11/1/2023
Summary
The Consumer Price Index for Restaurants and Hotels in the Czech Republic measures changes in the prices paid by consumers for dining out, accommodation, and related services. This metric is a key indicator of inflationary pressures and consumer spending patterns in the Czech 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 Restaurants and Hotels component is one of the major expenditure divisions of the overall Consumer Price Index (CPI) for the Czech Republic. It tracks the price development of a representative basket of goods and services related to food service and lodging, which are important parts of household budgets and the national economy.
Methodology
The Czech Statistical Office collects price data from a sample of establishments and calculates the index using a Laspeyres formula.
Historical Context
Policymakers and analysts use this CPI component to gauge consumer demand, inflationary trends, and the health of the Czech service sector.
Key Facts
- The Restaurants and Hotels CPI has a weight of 10.2% in the overall Czech CPI basket.
- This index reached an all-time high of 131.4 in January 2023.
- Prices in this category have risen 7.8% over the past 12 months.
FAQs
Q: What does this economic trend measure?
A: The Restaurants and Hotels CPI for the Czech Republic tracks changes in the prices consumers pay for dining out, accommodation, and related services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into inflationary pressures and consumer spending patterns in the important Czech services sector.
Q: How is this data collected or calculated?
A: The Czech Statistical Office collects price data from a sample of establishments and calculates the index using a Laspeyres formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this CPI component to gauge consumer demand, inflationary trends, and the health of the Czech services sector.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Czech Republic (CZECP110000GPM), retrieved from FRED.