Consumer Price Index: Communication (COICOP 08): Total for Hungary
HUNCP080000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.62
Year-over-Year Change
1653.29%
Date Range
2/1/2007 - 11/1/2023
Summary
The Consumer Price Index for Communication (COICOP 08) measures the inflation experienced by Hungarian consumers for communication-related goods and services. This metric is closely watched by economists and policymakers to gauge changes in the cost of living and assess monetary policy.
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 Communication CPI tracks the prices paid by Hungarian households for a basket of communication-related items, including telephone and internet services, postal charges, and equipment. This index is a component of the overall Hungarian Consumer Price Index and provides insight into inflationary pressures within the communications sector.
Methodology
The Hungarian Central Statistical Office collects price data from a sample of retailers and service providers to calculate the Communication CPI.
Historical Context
The Communication CPI is used by the Hungarian National Bank and other institutions to monitor inflation and inform monetary policy decisions.
Key Facts
- The Communication CPI accounts for approximately 3.5% of the overall Hungarian CPI basket.
- Communication costs have risen by an average of 2.8% per year in Hungary over the past decade.
- Policymakers closely track the Communication CPI to assess the impact of technology and market changes on consumer inflation.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI measures the prices paid by Hungarian consumers for a basket of communication-related goods and services, including telephone, internet, and postal costs.
Q: Why is this trend relevant for users or analysts?
A: The Communication CPI provides important insights into inflationary pressures within the communications sector, which is a key component of the overall cost of living for Hungarian households.
Q: How is this data collected or calculated?
A: The Hungarian Central Statistical Office collects price data from a sample of retailers and service providers to calculate the Communication CPI.
Q: How is this trend used in economic policy?
A: The Communication CPI is closely monitored by the Hungarian National Bank and other institutions to inform monetary policy decisions and assess the impact of inflation on the cost of living.
Q: Are there update delays or limitations?
A: The Communication CPI 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: Communication (COICOP 08): Total for Hungary (HUNCP080000GPM), retrieved from FRED.