Consumer Price Index: Harmonized Prices: Services: Total for Luxembourg
LUXCPHPSE01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.50
Year-over-Year Change
-28.57%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Services: Total for Luxembourg measures the change in prices for a basket of consumer services in Luxembourg. This key economic indicator helps track inflation and cost-of-living trends.
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 harmonized services prices in Luxembourg provides a comprehensive measure of price changes for a wide range of consumer services, including housing, utilities, transportation, and recreation. This index is an important benchmark for assessing the purchasing power of consumers and informing economic policies.
Methodology
The data is collected through surveys of businesses and households and calculated using a weighted average of price changes for different service categories.
Historical Context
Policymakers and analysts use this index to monitor inflationary pressures and make informed decisions about monetary and fiscal policies.
Key Facts
- Luxembourg's CPI for services reached a record high in 2022.
- The services sector accounts for over 70% of Luxembourg's GDP.
- Harmonized price indices allow for cross-country comparisons in the EU.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Harmonized Prices: Services: Total in Luxembourg measures the change in prices for a basket of consumer services in the country.
Q: Why is this trend relevant for users or analysts?
A: This index is an important benchmark for assessing the purchasing power of consumers and informing economic policies in Luxembourg.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households and calculated using a weighted average of price changes for different service categories.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor inflationary pressures and make informed decisions about monetary and fiscal policies in Luxembourg.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be some delays in data reporting and publication.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Services: Total for Luxembourg (LUXCPHPSE01GPM), retrieved from FRED.