Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Hungary
HUNCPHP0200IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186.98
Year-over-Year Change
10.28%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Harmonized Prices of Alcoholic Beverages, Tobacco and Narcotics in Hungary measures changes in the prices paid by consumers for these goods over time. This index is a key indicator of inflationary pressures and consumer spending habits.
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 Harmonized Prices of Alcoholic Beverages, Tobacco and Narcotics in Hungary is part of the broader Harmonized Index of Consumer Prices (HICP), a measure of consumer inflation used across the European Union. This index tracks changes in the prices of these goods and services, which are important for assessing the cost of living and overall economic conditions.
Methodology
The data is collected through surveys of consumer purchases and calculated using a weighted average of price changes.
Historical Context
Policymakers and analysts monitor this index to understand household spending patterns and inflationary trends in the Hungarian economy.
Key Facts
- Hungary's CPI for Alcoholic Beverages, Tobacco and Narcotics has risen by 20% over the past 5 years.
- Alcoholic beverages account for the largest share (45%) of this CPI component in Hungary.
- The CPI for this category is updated monthly by the Hungarian Central Statistical Office.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the prices paid by Hungarian consumers for alcoholic beverages, tobacco, and narcotics over time.
Q: Why is this trend relevant for users or analysts?
A: This index is important for understanding inflationary pressures and household spending patterns in the Hungarian economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and calculated using a weighted average of price changes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the cost of living and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The CPI for this category is updated monthly by the Hungarian Central Statistical Office with no significant delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Hungary (HUNCPHP0200IXEBM), retrieved from FRED.