Consumer Price Index: Harmonised Prices: Clothing and Footwear (COICOP 03): Total for the Euro Area (19 Countries)
Growth rate same period previous year
EA19CPHP0300GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.00
Year-over-Year Change
-2600.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Growth rate same period previous year' trend measures the year-over-year percentage change in the Harmonized Index of Consumer Prices (HICP) for the Eurozone. It provides insight into inflationary pressures in the Eurozone 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 'Growth rate same period previous year' tracks the annual change in the Eurozone's HICP, which is the primary measure of consumer price inflation used by the European Central Bank for monetary policy. This statistic is a key economic indicator for analyzing price stability and cost-of-living trends in the Eurozone.
Methodology
The data is calculated by the Eurostat statistical agency using a harmonized methodology across Eurozone member states.
Historical Context
Policymakers and analysts closely monitor this inflation measure to inform monetary and fiscal policy decisions.
Key Facts
- The Eurozone inflation rate was 8.6% in the 12 months to June 2022.
- The Eurozone's target inflation rate is 2% per year.
- The HICP is calculated using a fixed basket of consumer goods and services.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' measures the annual percentage change in the Eurozone's Harmonized Index of Consumer Prices, the primary gauge of consumer price inflation.
Q: Why is this trend relevant for users or analysts?
A: This inflation measure is crucial for policymakers and economists to assess price stability and the need for monetary or fiscal policy adjustments in the Eurozone.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat using harmonized methodologies across Eurozone member states.
Q: How is this trend used in economic policy?
A: The European Central Bank uses this inflation statistic as a key input for its monetary policy decisions aimed at maintaining price stability in the Eurozone.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, providing timely insights into Eurozone inflationary trends.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (EA19CPHP0300GYM), retrieved from FRED.