Consumer Price Index: Harmonised prices: Alcoholic beverages, tobacco and narcotics (COICOP 02): Total for the European Union
Growth rate same period previous year
EU28CPHP0200GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.60
Year-over-Year Change
2.86%
Date Range
12/1/2000 - 1/1/2020
Summary
The 'Growth rate same period previous year' metric tracks the year-over-year change in the EU-28 Harmonized Index of Consumer Prices (HICP). This indicator provides insight into inflationary pressures and consumer purchasing power across the European Union.
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 measures the annual percentage change in the EU-28 HICP, which is the primary gauge of consumer price inflation used by the European Central Bank. This trend is a key economic indicator monitored by policymakers, analysts, and businesses to assess the strength of the European economy.
Methodology
The HICP data is collected monthly from consumer surveys and retail prices across the EU member states.
Historical Context
Policymakers and central banks use this metric to inform monetary policy decisions and manage inflation targets.
Key Facts
- The EU-28 HICP covers around 60% of household final monetary consumption expenditure.
- The annual growth rate reached a high of 4.7% in July 2022.
- Inflation has remained above the European Central Bank's 2% target since 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' metric tracks the annual percentage change in the EU-28 Harmonized Index of Consumer Prices (HICP), the primary gauge of consumer price inflation in the European Union.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into inflationary pressures and consumer purchasing power across the EU, which is closely monitored by policymakers, analysts, and businesses to assess the strength of the European economy.
Q: How is this data collected or calculated?
A: The HICP data is collected monthly from consumer surveys and retail prices across the EU member states.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use this metric to inform monetary policy decisions and manage inflation targets in the European Union.
Q: Are there update delays or limitations?
A: The EU-28 HICP data is published monthly with a lag of around one month.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (EU28CPHP0200GYM), retrieved from FRED.