Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Luxembourg
Index source base
LUXCP030000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.55
Year-over-Year Change
8.46%
Date Range
1/1/1995 - 10/1/2023
Summary
The Index Source Base (LUXCP030000IXNBQ) measures the base year for calculating indices of consumer prices. This metric is essential for economists and policymakers to properly interpret and compare price level changes over time.
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 Index Source Base represents the reference year used as the base for calculating price indices. It establishes the starting point of 100 from which percentage changes in prices are measured. Understanding the index base year is crucial for accurately analyzing and interpreting consumer price trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of the Consumer Price Index program.
Historical Context
Policymakers and analysts use the Index Source Base to contextualize and analyze consumer price inflation data.
Key Facts
- The index base year is typically set to 100.
- The Index Source Base changes periodically to reflect updated consumption patterns.
- Proper interpretation of price index data requires knowledge of the base year.
FAQs
Q: What does this economic trend measure?
A: The Index Source Base measures the reference year used as the base for calculating consumer price indices. It establishes the starting point from which percentage changes in prices are measured.
Q: Why is this trend relevant for users or analysts?
A: Understanding the index base year is crucial for accurately analyzing and interpreting consumer price trends over time.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of the Consumer Price Index program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Index Source Base to contextualize and analyze consumer price inflation data, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The Index Source Base is updated periodically to reflect changes in consumption patterns, which can affect the interpretation of price index data over time.
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Citation
U.S. Federal Reserve, Index Source Base (LUXCP030000IXNBQ), retrieved from FRED.