Consumer Price Index: Harmonized Prices: Food and Non-Alcoholic Beverages (COICOP 01): Total for Luxembourg
LUXCPHP0100GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-66.67%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Harmonized Prices: Food and Non-Alcoholic Beverages in Luxembourg measures the changes in prices for a basket of consumer goods related to food and non-alcoholic beverages. This metric is a key indicator of inflation and consumer spending patterns.
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 Food and Non-Alcoholic Beverages in Luxembourg is part of the broader Harmonized Index of Consumer Prices (HICP), which allows for cross-country comparisons of inflation. This specific index focuses on the price changes of essential household goods and is used by policymakers to assess the cost of living and guide economic policies.
Methodology
The data is collected through a survey of retailers and service providers across Luxembourg.
Historical Context
This CPI trend provides insight into household consumption and inflationary pressures, informing monetary and fiscal policy decisions.
Key Facts
- The index base year is 2015 = 100.
- Food and non-alcoholic beverages account for around 16% of the total HICP basket in Luxembourg.
- Prices for this category have risen by 5.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Harmonized Prices: Food and Non-Alcoholic Beverages in Luxembourg measures the changes in retail prices for a basket of essential consumer goods related to food and non-alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This CPI trend provides crucial insight into household consumption patterns and inflationary pressures, which is vital information for policymakers, economists, and consumers in assessing the cost of living and informing economic decisions.
Q: How is this data collected or calculated?
A: The data is collected through a survey of retailers and service providers across Luxembourg.
Q: How is this trend used in economic policy?
A: This CPI trend is used by the European Central Bank and Luxembourg government to monitor inflation and guide monetary and fiscal policies aimed at maintaining price stability and supporting economic growth.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two weeks, providing timely information on price changes. The index covers a representative basket of food and non-alcoholic beverage items, but may not capture all nuances of household consumption.
Related Trends
Harmonized Index of Consumer Prices: Medical Services; Paramedical Services for Luxembourg
CP0621LUM086NEST
Harmonized Index of Consumer Prices: Solid Fuels for Luxembourg
CP0454LUM086NEST
Infra-Annual Labor Statistics: Working-Age Population Male: From 25 to 54 Years for Luxembourg
LFWA25MALUA647S
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: All Items Non-Food Non-Energy for Luxembourg
LUXCPICORMINMEI
Infra-Annual Labor Statistics: Employment Male: From 15 to 24 Years for Luxembourg
LFEM24MALUA647N
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Luxembourg
LUXCPGRSE01IXOBQ
Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Food and Non-Alcoholic Beverages (COICOP 01): Total for Luxembourg (LUXCPHP0100GPM), retrieved from FRED.