Consumer Price Index: OECD Groups: Services Less Housing: Housing Excluding Imputed Rentals for Housing for Luxembourg
LUXCPGRLH02GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.31
Year-over-Year Change
-38.76%
Date Range
4/1/1995 - 10/1/2023
Summary
The Consumer Price Index: OECD Groups: Services Less Housing: Housing Excluding Imputed Rentals for Housing for Luxembourg measures the inflation rate for services, excluding housing costs, in Luxembourg. This metric is crucial for policymakers and economists to assess the overall price pressures in the Luxembourg 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
This index tracks the changes in prices for a basket of services, excluding housing costs, in Luxembourg. It provides a more targeted view of inflationary trends in the service sector, which is an important component of the Luxembourg economy. Economists and policymakers use this data to evaluate the effectiveness of monetary and fiscal policies.
Methodology
The data is collected through a nationwide survey of consumer prices and calculated using a fixed-weight index methodology.
Historical Context
This index is a key input for the European Central Bank's monetary policy decisions affecting Luxembourg.
Key Facts
- Luxembourg's services CPI excluding housing costs increased by 2.9% in 2022.
- This index accounts for approximately 50% of the total CPI basket in Luxembourg.
- Services inflation has outpaced overall inflation in Luxembourg in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the changes in prices for a basket of services, excluding housing costs, in Luxembourg. It provides a more targeted view of inflationary pressures in the service sector of the Luxembourg economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and economists to assess the underlying price dynamics in the Luxembourg economy, separate from the volatile housing sector. It helps inform monetary and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices and calculated using a fixed-weight index methodology.
Q: How is this trend used in economic policy?
A: This index is a key input for the European Central Bank's monetary policy decisions affecting Luxembourg, as it provides insights into the inflationary pressures in the service sector.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Services Less Housing: Housing Excluding Imputed Rentals for Housing for Luxembourg (LUXCPGRLH02GPQ), retrieved from FRED.