Consumer Price Index: Transport (COICOP 07): Total for Finland
FINCP070000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.14
Year-over-Year Change
17.78%
Date Range
1/1/2010 - 7/1/2023
Summary
The Consumer Price Index: Transport (COICOP 07): Total for Finland measures changes in the prices of transportation goods and services for consumers in Finland. This important indicator helps economists and policymakers track inflation 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 Consumer Price Index: Transport (COICOP 07): Total for Finland is a key economic indicator that tracks the monthly changes in the prices of a broad basket of transportation-related goods and services purchased by Finnish consumers. It is a subcomponent of the overall Consumer Price Index and provides insight into transportation-driven inflation.
Methodology
The data is collected through surveys of Finnish consumers and businesses.
Historical Context
This index is closely monitored by the Bank of Finland and other economic analysts to assess transportation costs and their impact on the broader economy.
Key Facts
- Finland's transport CPI has risen by 10% over the past 5 years.
- Transport accounts for approximately 15% of the total Finnish CPI basket.
- Gasoline and vehicle prices are the largest components of the transport CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Transport (COICOP 07): Total for Finland measures the monthly changes in the prices of transportation-related goods and services purchased by consumers in Finland.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into transportation-driven inflation, which is a key component of the overall cost of living and can have significant impacts on consumer spending and the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Finnish consumers and businesses.
Q: How is this trend used in economic policy?
A: The Bank of Finland and other economic analysts closely monitor this index to assess transportation costs and their impact on the broader economy, which informs policymaking decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Finland (FINCP070000IXNBQ), retrieved from FRED.