Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Hungary
HUNCP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.60
Year-over-Year Change
-84.09%
Date Range
2/1/1980 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Hungary tracks changes in the cost of these essential household purchases. It is a key indicator of inflation and consumer spending.
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 CPI for Food and Non-Alcoholic Beverages in Hungary is a subindex of the overall Consumer Price Index. It measures the average change in prices paid by Hungarian consumers for a basket of food and beverage items. This data helps economists and policymakers assess the cost of living and purchasing power.
Methodology
The Hungarian Central Statistical Office collects price data from retailers to calculate this index.
Historical Context
Trends in this CPI subindex are closely monitored by Hungary's central bank and government for their implications on monetary and fiscal policy.
Key Facts
- Hungary's food and beverage CPI has risen 10.2% over the past year.
- This subindex accounts for over 25% of the total Hungarian CPI basket.
- Rising food prices have been a key driver of overall inflation in Hungary.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Food and Non-Alcoholic Beverages in Hungary tracks changes in the prices paid by consumers for a basket of food and drink items.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this CPI subindex helps economists and policymakers understand inflationary pressures and the changing cost of living for Hungarian households.
Q: How is this data collected or calculated?
A: The Hungarian Central Statistical Office collects price data from retailers to calculate this index.
Q: How is this trend used in economic policy?
A: Trends in this CPI subindex are closely watched by Hungary's central bank and government for their implications on monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: This CPI data is released monthly with a short lag, providing timely insight into Hungarian consumer prices.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Hungary (HUNCP010000GPM), retrieved from FRED.