Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Denmark
DNKCP050000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.94
Year-over-Year Change
-9.43%
Date Range
2/1/2000 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Furnishings, Household Equipment and Routine Household Maintenance in Denmark measures price changes over time for a basket of consumer goods and services related to home furnishings and maintenance.
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
This CPI series is a key indicator of inflationary pressures in the Danish household sector, providing insights into consumer spending patterns and overall economic conditions. It is widely used by policymakers, economists, and analysts to inform decision-making and economic forecasting.
Methodology
The data is collected through a survey of households and retail establishments, and calculated using a modified Laspeyres formula.
Historical Context
Trends in this CPI measure are closely monitored by the Danish central bank and government for their implications on monetary and fiscal policy.
Key Facts
- The base year for this CPI series is 2015 = 100.
- Denmark's household furnishings CPI reached a record high in 2022.
- This CPI accounts for around 6% of the total Danish consumer price index.
FAQs
Q: What does this economic trend measure?
A: This CPI series measures the price changes over time for a basket of consumer goods and services related to home furnishings, household equipment, and routine household maintenance in Denmark.
Q: Why is this trend relevant for users or analysts?
A: This CPI measure provides important insights into inflationary pressures and consumer spending patterns within the Danish household sector, which is crucial for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through a survey of households and retail establishments, and calculated using a modified Laspeyres formula.
Q: How is this trend used in economic policy?
A: Trends in this CPI measure are closely monitored by the Danish central bank and government for their implications on monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: There may be occasional delays in the release of this CPI data, and the basket of goods and services included is subject to periodic review and adjustment.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Denmark (DNKCP050000GPM), retrieved from FRED.