Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Estonia
ESTCP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
421.50
Year-over-Year Change
6.65%
Date Range
1/1/1998 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Restaurants and Hotels in Estonia measures changes in the prices paid by consumers for meals, drinks, and accommodation services. This metric is a key indicator of inflation in Estonia'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 Restaurants and Hotels CPI is a component of the broader Estonian CPI, which tracks the average change in prices for a basket of consumer goods and services. The Restaurants and Hotels CPI provides insight into inflationary pressures within Estonia's hospitality industry, an important driver of economic activity.
Methodology
The data is collected through regular price surveys of a representative sample of restaurants, hotels, and other hospitality establishments across Estonia.
Historical Context
Economists and policymakers closely monitor the Restaurants and Hotels CPI to assess the health of Estonia's service sector and make informed decisions about monetary and fiscal policy.
Key Facts
- The Restaurants and Hotels CPI is a component of Estonia's overall Consumer Price Index.
- The index is calculated based on a survey of prices at a representative sample of hospitality establishments.
- Monitoring the Restaurants and Hotels CPI is crucial for assessing inflationary pressures in Estonia's service sector.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Restaurants and Hotels in Estonia measures changes in the prices paid by consumers for meals, drinks, and accommodation services.
Q: Why is this trend relevant for users or analysts?
A: The Restaurants and Hotels CPI provides insight into inflationary pressures within Estonia's hospitality industry, an important driver of economic activity. Economists and policymakers use this metric to assess the health of the service sector and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative sample of restaurants, hotels, and other hospitality establishments across Estonia.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor the Restaurants and Hotels CPI to assess the health of Estonia's service sector and make informed decisions about monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI data is published regularly with minimal update delays, providing timely insights into inflationary pressures in Estonia's hospitality industry.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Estonia (ESTCP110000IXNBM), retrieved from FRED.