Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Luxembourg
LUXCPHP0300IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.03
Year-over-Year Change
3.72%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Luxembourg measures the inflation of clothing and footwear prices in Luxembourg. This data is critical for understanding consumer spending patterns and assessing the overall cost of living.
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 economic indicator tracks price changes for a basket of consumer goods related to clothing and footwear in Luxembourg. It is part of the Harmonized Index of Consumer Prices (HICP), which allows for cross-country inflation comparisons across the European Union.
Methodology
The data is collected through surveys of retailers and service providers across Luxembourg.
Historical Context
Policymakers use this index to guide monetary and fiscal policies that impact consumer purchasing power.
Key Facts
- Luxembourg's clothing/footwear prices have risen 2.1% over the past year.
- Clothing and footwear account for 4.3% of the total consumer price basket in Luxembourg.
- This index uses 2015 as the base year for price comparisons.
FAQs
Q: What does this economic trend measure?
A: This index measures the changes in prices for a basket of consumer goods related to clothing and footwear purchased by households in Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding changes in the cost of living and consumer spending patterns in Luxembourg.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of retailers and service providers across Luxembourg.
Q: How is this trend used in economic policy?
A: Policymakers use this index to guide monetary and fiscal policies that impact consumer purchasing power in Luxembourg.
Q: Are there update delays or limitations?
A: This index is published monthly with a typical 2-week delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Luxembourg (LUXCPHP0300IXEBM), retrieved from FRED.