Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Estonia
ESTCP110000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.47
Year-over-Year Change
-134.74%
Date Range
2/1/1998 - 12/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11) measures the change in prices for restaurant, hotel, and other hospitality services in Estonia. This index is a key indicator of inflationary pressures and consumer spending trends in the country's service sector.
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 COICOP 11 index tracks the prices paid by Estonian consumers for a basket of restaurant, hotel, and related services. It is part of the broader Consumer Price Index, which is a widely used metric for monitoring inflation and informing economic policymaking.
Methodology
The data is collected through regular surveys of prices charged by a representative sample of Estonian businesses in the hospitality industry.
Historical Context
The Restaurants and Hotels index is closely watched by the Bank of Estonia and other policymakers as a gauge of service sector activity and inflationary dynamics.
Key Facts
- The index uses 2015 as its base year.
- Hospitality services account for over 10% of Estonia's consumer price basket.
- Prices in this sector have risen by an average of 4% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Restaurants and Hotels (COICOP 11) measures the change in prices paid by Estonian consumers for a basket of restaurant, hotel, and other hospitality services.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and consumer spending trends in Estonia's service sector, providing important insights for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative sample of Estonian businesses in the hospitality industry.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels index is closely monitored by the Bank of Estonia and other policymakers as a gauge of service sector activity and inflationary dynamics.
Q: Are there update delays or limitations?
A: The index data is published monthly with a typical lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Estonia (ESTCP110000GPM), retrieved from FRED.