Consumer Price Index: OECD Groups: Goods: Total for Hungary
HUNCPGRGO01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.18
Year-over-Year Change
-109.08%
Date Range
2/1/2007 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Goods: Total in Hungary, published by the OECD, measures changes in the prices of a basket of consumer goods in the Hungarian economy. This metric is crucial for economists and policymakers to understand inflationary pressures and the purchasing power of consumers.
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 Goods: Total in Hungary is a key economic indicator that tracks the average change in prices for a representative basket of consumer goods and services. It is used to assess the overall cost of living and inflation experienced by Hungarian households, informing monetary and fiscal policy decisions.
Methodology
The data is collected through surveys of prices paid by consumers for a variety of goods and services.
Historical Context
Policymakers and analysts closely monitor the CPI for Goods: Total to gauge the state of the Hungarian economy and make informed decisions about economic and monetary policies.
Key Facts
- The CPI for Goods: Total in Hungary has a base year of 2015.
- Prices for consumer goods account for approximately 60% of the total CPI basket in Hungary.
- The Hungarian Central Bank uses the CPI as a key metric to set inflation targets and guide monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Goods: Total in Hungary measures the average change in prices paid by consumers for a basket of consumer goods in the Hungarian economy.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Goods: Total is a crucial indicator of inflationary pressures and the purchasing power of Hungarian consumers, informing economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of prices paid by consumers for a variety of goods and services.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the CPI for Goods: Total to gauge the state of the Hungarian economy and make informed decisions about economic and monetary policies.
Q: Are there update delays or limitations?
A: The CPI for Goods: Total in Hungary is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Goods: Total for Hungary (HUNCPGRGO01GPM), retrieved from FRED.