Consumer Price Index: Harmonised prices: Services: Total for the European Union
Growth rate same period previous year
EU28CPHPSE01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.90
Year-over-Year Change
18.75%
Date Range
12/1/2001 - 1/1/2020
Summary
The 'Growth rate same period previous year' metric measures the annual change in the Harmonized Index of Consumer Prices (HICP) for the European Union 28 countries. This key economic indicator provides insights into inflation and consumer price dynamics.
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 HICP 'Growth rate same period previous year' tracks year-over-year changes in the overall price level of consumer goods and services in the EU. It is a widely-used benchmark for assessing the European Central Bank's progress toward its inflation target and informing monetary policy decisions.
Methodology
The HICP data is collected through surveys of consumer expenditures and calculated by Eurostat, the statistical office of the European Union.
Historical Context
Policymakers and economists closely monitor this inflation gauge to evaluate the health of the Eurozone economy and the effectiveness of central bank interventions.
Key Facts
- The HICP covers around 60% of the average European household's consumption expenditure.
- The EU's inflation target is close to but below 2% over the medium term.
- HICP data is released monthly, with a lag of around 2 weeks.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' tracks the annual change in the Harmonized Index of Consumer Prices (HICP) for the European Union 28 countries.
Q: Why is this trend relevant for users or analysts?
A: This inflation gauge is a key indicator used by the European Central Bank and policymakers to assess price stability and guide monetary policy decisions.
Q: How is this data collected or calculated?
A: The HICP data is collected through surveys of consumer expenditures and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this inflation indicator to evaluate the health of the Eurozone economy and the effectiveness of central bank interventions.
Q: Are there update delays or limitations?
A: HICP data is released monthly, with a lag of around 2 weeks.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (EU28CPHPSE01GYM), retrieved from FRED.