Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Hungary
Quarterly
HUNCP020000IXOBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
202.43
Year-over-Year Change
30.25%
Date Range
1/1/2007 - 1/1/2025
Summary
The Quarterly Nonfarm Business Sector: Unit Labor Costs Index measures changes in the cost of labor per unit of output produced in the nonfarm business sector. It is a key indicator of inflationary pressures and productivity.
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 Quarterly Nonfarm Business Sector: Unit Labor Costs Index tracks the growth in labor costs relative to output, providing insight into the relationship between wages, productivity, and overall business costs. It is closely monitored by policymakers and economists to assess the economy's inflationary trajectory.
Methodology
The index is calculated by the U.S. Bureau of Labor Statistics based on data from the Productivity and Costs survey.
Historical Context
Trends in unit labor costs help inform monetary policy decisions by the Federal Reserve and influence forecasts of consumer price inflation.
Key Facts
- The index is published quarterly by the U.S. Bureau of Labor Statistics.
- Unit labor costs rose 2.4% in the fourth quarter of 2022.
- High unit labor costs can signal inflationary pressures in the economy.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Nonfarm Business Sector: Unit Labor Costs Index measures changes in the cost of labor per unit of output produced in the nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost trends provide insight into inflationary pressures and labor productivity, which are closely monitored by policymakers and economists.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Labor Statistics based on data from the Productivity and Costs survey.
Q: How is this trend used in economic policy?
A: Trends in unit labor costs help inform monetary policy decisions by the Federal Reserve and influence forecasts of consumer price inflation.
Q: Are there update delays or limitations?
A: The index is published quarterly, with a typical release lag of approximately one month.
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Citation
U.S. Federal Reserve, Quarterly Nonfarm Business Sector: Unit Labor Costs Index (HUNCP020000IXOBQ), retrieved from FRED.