Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Finland
This dataset tracks consumer price index: clothing and footwear (coicop 03): total for finland over time.
Latest Value
-1.94
Year-over-Year Change
-6530.37%
Date Range
2/1/2010 - 11/1/2023
Summary
The Consumer Price Index for Clothing and Footwear in Finland tracks changes in the retail prices of apparel, shoes, and related items. It serves as a key indicator of inflationary pressures and consumer spending patterns in the Finnish economy.
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 Clothing and Footwear CPI is a subindex of the broader Consumer Price Index that measures the cost of a representative basket of clothing and footwear items purchased by Finnish households. It is used to assess changes in the real purchasing power of consumers and inform policymaking.
Methodology
The data is collected through regular price surveys of a sample of retail establishments across Finland.
Historical Context
Policymakers and analysts monitor this index to understand trends in consumer behavior and the impact of external factors like trade and commodity prices.
Key Facts
- Finland's Clothing and Footwear CPI has a base year of 2015.
- The index experienced its highest annual increase of 3.7% in 2022.
- Apparel accounts for the largest share of the Clothing and Footwear CPI basket.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Clothing and Footwear in Finland tracks changes in the retail prices of apparel, shoes, and related items purchased by Finnish households.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and consumer spending patterns in the Finnish economy, which is crucial information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a sample of retail establishments across Finland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to understand trends in consumer behavior and the impact of external factors like trade and commodity prices on household expenditure.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Finland (FINCP030000GPM), retrieved from FRED.