Consumer Price Index: Harmonized Prices: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Luxembourg
LUXCPHP0500GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.30
Year-over-Year Change
-250.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05) for Luxembourg measures changes in the prices paid by consumers for a basket of goods and services related to home furnishings and household maintenance. This economic indicator is used to track inflation and inform policymakers.
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 series represents the price index for a broad category of consumer goods and services related to furnishings, household equipment, and routine household maintenance in Luxembourg. It is part of the Harmonized Index of Consumer Prices (HICP), a European Union-wide measure of inflation used for economic analysis and policy decisions.
Methodology
The data is collected through surveys of consumer purchases and calculated according to Eurostat guidelines.
Historical Context
This index is monitored by the European Central Bank and Luxembourg's government to assess inflationary pressures and cost-of-living trends.
Key Facts
- The index has a base year of 2015 = 100.
- Furnishings and household equipment account for over 5% of the Luxembourg CPI basket.
- Prices in this category have risen by 3.2% over the past year.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices paid by consumers in Luxembourg for a basket of goods and services related to furnishings, household equipment, and routine household maintenance.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into inflationary pressures and cost-of-living dynamics for an important component of household expenditures in Luxembourg.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and calculated according to Eurostat's harmonized methodology for the Harmonized Index of Consumer Prices.
Q: How is this trend used in economic policy?
A: The Luxembourg CPI is monitored by the European Central Bank and national policymakers to assess inflation and inform economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: This index is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Luxembourg (LUXCPHP0500GPM), retrieved from FRED.