Consumer Price Index: Harmonised prices: Transport (COICOP 07): Total for the European Union
EU28CPHP0700GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.10
Year-over-Year Change
-91.67%
Date Range
1/1/2000 - 1/1/2020
Summary
The Consumer Price Index: Harmonised prices for Transport (COICOP 07) in the European Union measures changes in the prices of transport-related goods and services across the EU. This key indicator helps economists and policymakers track inflation pressures in the transportation 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 Harmonised Index of Consumer Prices (HICP) is a standardized measure of inflation across the European Union, tracking a basket of consumer goods and services. The Transport component (COICOP 07) focuses specifically on the prices of items like vehicle purchases, fuel, public transport fares, and other transport-related costs.
Methodology
The EU's statistical agency, Eurostat, collects and aggregates price data from national statistical offices to calculate this harmonized index.
Historical Context
Monitoring trends in transport prices is vital for evaluating the impact of factors like energy costs, regulations, and consumer demand on the broader economy.
Key Facts
- The Transport category accounts for around 15% of the total HICP basket.
- Fuel and lubricant prices are the largest component, making up over 40% of the Transport index.
- Transport costs have a significant impact on household budgets and business expenses.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonised prices for Transport (COICOP 07) in the European Union tracks changes in the prices of a range of transport-related goods and services across the EU.
Q: Why is this trend relevant for users or analysts?
A: Monitoring transport inflation is crucial for evaluating the broader economic impact of factors like energy costs, infrastructure investments, and consumer demand patterns.
Q: How is this data collected or calculated?
A: Eurostat, the EU's statistical agency, collects price data from national statistical offices and aggregates it to calculate this harmonized index.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Transport HICP to assess inflationary pressures, inform monetary policy decisions, and evaluate the impact of factors affecting the cost of living and doing business.
Q: Are there update delays or limitations?
A: The Transport HICP data is published monthly by Eurostat, with a typical lag of around 2 weeks from the end of the reference period.
Related Trends
Harmonized Index of Consumer Prices: Information Processing Equipment for European Union
CP0913EUCCM086NEST
Unemployment Rate: Aged 15-64: All Persons for the European Union
LRUN64TTEUA156S
Inactivity Rate: Aged 25-54: All Persons for the European Union
LRIN25TTEUA156N
Total Industry Production Excluding Construction for the European Union
PRINTO01EUA659S
Harmonized Index of Consumer Prices: Heat Energy for Euro Area (19 Countries)
CP0455EZ19M086NEST
Harmonized Index of Consumer Prices: Dental Services for Euro Area (19 Countries)
CP0622EZ19M086NEST
Citation
U.S. Federal Reserve, Consumer Price Index: Harmonised prices: Transport (COICOP 07): Total for the European Union (EU28CPHP0700GPM), retrieved from FRED.