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
101.36
Year-over-Year Change
2.14%
Date Range
1/1/2010 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Clothing and Footwear in Finland measures changes in the prices of consumer goods in this category. This key economic indicator provides insights into inflationary trends and consumer spending patterns.
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 for Finland is a subindex of the overall CPI, which tracks the average change in prices paid by consumers for a basket of goods and services. This sectoral index is useful for analyzing shifts in consumer demand and the cost of living within this specific product category.
Methodology
The data is collected through surveys of retailers and service providers across Finland.
Historical Context
Policymakers and analysts use this CPI data to inform decisions on monetary policy, inflation targeting, and economic forecasting.
Key Facts
- Finland's Clothing and Footwear CPI reached a record high in 2022.
- This index is a component of the overall Consumer Price Index for Finland.
- Clothing and footwear account for approximately 5% of the Finnish consumer price basket.
FAQs
Q: What does this economic trend measure?
A: The Clothing and Footwear CPI for Finland measures the average change in prices paid by consumers for goods in this product category.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into inflationary pressures and consumer spending patterns within the clothing and footwear sector, which is an important component of the overall cost of living.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and service providers across Finland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this CPI data to inform decisions on monetary policy, inflation targeting, and economic forecasting.
Q: Are there update delays or limitations?
A: The CPI data is typically released on a monthly basis, with some potential for slight delays in reporting.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Finland (FINCP030000IXNBM), retrieved from FRED.