Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Denmark
DNKCPHP0700IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.30
Year-over-Year Change
-0.59%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Denmark measures changes in the prices of transportation goods and services in Denmark. This key indicator is closely watched by economists and policymakers to assess inflationary pressures and consumer spending trends.
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 index tracks the prices paid by Danish consumers for a basket of transportation-related goods and services, including private transportation, public transport, and vehicle operation. It is a crucial component of the broader consumer price index and provides insights into the cost of living and household spending patterns.
Methodology
The data is collected by Statistics Denmark through a nationwide survey of retail prices.
Historical Context
The transport CPI is used by the Danish central bank and government to inform monetary and fiscal policies.
Key Facts
- The index has a base year of 2015 = 100.
- Transport accounts for approximately 15% of the Danish consumer price index.
- Prices for this sector have risen by 10% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Denmark measures the changes in prices for a basket of transportation-related goods and services in Denmark.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and consumer spending patterns in Denmark, providing important insights for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by Statistics Denmark through a nationwide survey of retail prices.
Q: How is this trend used in economic policy?
A: The transport CPI is used by the Danish central bank and government to inform monetary and fiscal policies, such as setting interest rates and adjusting tax policies.
Q: Are there update delays or limitations?
A: The transport CPI data is published monthly with a typical 2-week lag, and may be subject to revisions based on updated source data.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Denmark (DNKCPHP0700IXEBM), retrieved from FRED.