Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Hungary
HUNCP010000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
285.60
Year-over-Year Change
4.62%
Date Range
1/1/1980 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Hungary measures changes in the prices of these essential household goods. This key economic indicator is closely monitored by policymakers to assess cost-of-living pressures and inflation.
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 subcomponent of the broader Consumer Price Index, which tracks the average change in prices paid by consumers for a basket of household goods and services. This sector-specific index is widely used to analyze consumer spending patterns and inform macroeconomic policy decisions.
Methodology
The Hungarian Central Statistical Office collects price data from a representative sample of retail outlets to calculate this seasonally adjusted index.
Historical Context
Trends in this CPI metric help policymakers and analysts understand the inflationary environment and its impact on household budgets.
Key Facts
- Hungary's CPI for Food and Non-Alcoholic Beverages has a base year of 2015.
- This index accounts for over 15% of the total Hungarian CPI basket.
- Food and non-alcoholic beverages are a major component of household budgets in Hungary.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Hungary tracks the average change in retail prices for this essential category of consumer goods.
Q: Why is this trend relevant for users or analysts?
A: Trends in this CPI metric help policymakers and economists understand the inflationary environment and its impact on household budgets, which is crucial for guiding macroeconomic policies.
Q: How is this data collected or calculated?
A: The Hungarian Central Statistical Office collects price data from a representative sample of retail outlets to calculate this seasonally adjusted index.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this CPI subindex to assess cost-of-living pressures and inform decisions on monetary policy, social welfare programs, and other economic interventions.
Q: Are there update delays or limitations?
A: This CPI data is published monthly by the Hungarian Central Statistical Office, with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Hungary (HUNCP010000IXNBM), retrieved from FRED.