Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Luxembourg
LUXCPHPSE01IXOBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.74
Year-over-Year Change
1.51%
Date Range
1/1/1996 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Services in Luxembourg measures changes in the prices paid by consumers for a basket of service-related goods and services over time. This key economic indicator provides insights into inflation trends 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 Services in Luxembourg is a component of the broader Consumer Price Index, which tracks the average change in prices paid by consumers for a comprehensive basket of goods and services. The services CPI specifically focuses on price movements for service-related expenditures, offering valuable data for economic analysis and policymaking.
Methodology
The data is collected by Luxembourg's national statistical agency through surveys of consumers and businesses.
Historical Context
This economic indicator is closely monitored by the European Central Bank and other policymakers to inform decisions on monetary policy and assess the overall state of the Luxembourg economy.
Key Facts
- The base year for the Luxembourg Services CPI is 2015.
- Services account for over 60% of Luxembourg's GDP.
- The CPI for Services has risen by an average of 2.3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Services in Luxembourg measures changes in the prices paid by consumers for a basket of service-related goods and services over time.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into inflation trends and consumer spending patterns in the service sector, which is a critical component of the Luxembourg economy.
Q: How is this data collected or calculated?
A: The data is collected by Luxembourg's national statistical agency through surveys of consumers and businesses.
Q: How is this trend used in economic policy?
A: The CPI for Services in Luxembourg is closely monitored by the European Central Bank and other policymakers to inform decisions on monetary policy and assess the overall state of the Luxembourg economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Luxembourg (LUXCPHPSE01IXOBM), retrieved from FRED.