Producer Prices Index: Economic Activities: Manufacture of Food Products: Total for Hungary
Growth rate same period previous year, Quarterly
HUNPIEAFD01GYQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.25
Year-over-Year Change
571.90%
Date Range
1/1/1999 - 10/1/2022
Summary
The 'Growth rate same period previous year, Quarterly' series measures the year-over-year percent change in Hungary's Harmonized Index of Consumer Prices (HICP). This key economic indicator provides insights into the rate of inflation in the Hungarian economy.
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 Harmonized Index of Consumer Prices (HICP) tracks the changes in the prices of a basket of consumer goods and services. The year-over-year growth rate of this index is a widely used metric for monitoring and understanding inflationary pressures in Hungary.
Methodology
The HICP data is collected by the Hungarian Central Statistical Office through surveys of consumer prices.
Historical Context
Policymakers and analysts closely monitor the HICP growth rate to assess the effectiveness of monetary policy and make informed decisions.
Key Facts
- Hungary's HICP grew by 21.1% in the fourth quarter of 2022 compared to the same period in 2021.
- The HICP is a key indicator used by the European Central Bank to monitor and manage inflation in the Eurozone.
- Rapid inflation can erode consumer purchasing power and lead to economic instability.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year, Quarterly' series measures the year-over-year percent change in Hungary's Harmonized Index of Consumer Prices (HICP).
Q: Why is this trend relevant for users or analysts?
A: The HICP growth rate is a crucial indicator for monitoring and understanding inflationary pressures in the Hungarian economy, which is essential for policymakers and analysts to make informed decisions.
Q: How is this data collected or calculated?
A: The HICP data is collected by the Hungarian Central Statistical Office through surveys of consumer prices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the HICP growth rate to assess the effectiveness of monetary policy and make informed decisions.
Q: Are there update delays or limitations?
A: The HICP data is typically released on a quarterly basis, with some potential for minor delays in data availability.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Quarterly (HUNPIEAFD01GYQ), retrieved from FRED.