Consumer Price Index: Food for Luxembourg
LUXCPIFODMINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.59
Year-over-Year Change
1.80%
Date Range
1/1/1960 - 5/1/2018
Summary
The Consumer Price Index (CPI) for Food in Luxembourg measures changes in the prices paid by consumers for a basket of food items. This metric is a key indicator of inflation and consumer purchasing power.
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 in Luxembourg tracks the cost of a representative basket of food and beverage items purchased by households. It is used to assess the overall cost of living and inflationary pressures within the Luxembourg economy.
Methodology
The Luxembourg Statistical Office collects price data from retailers to calculate the monthly CPI for Food.
Historical Context
Policymakers and analysts use this index to understand consumer spending patterns and make informed decisions.
Key Facts
- Luxembourg's CPI for Food has increased by 5.2% over the past year.
- Food accounts for approximately 15% of the total consumer expenditure in Luxembourg.
- The CPI for Food is a crucial input for adjusting wages and social benefits in Luxembourg.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food in Luxembourg measures the changes in the prices paid by consumers for a basket of food and beverage items.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Food is a key indicator of inflation and consumer purchasing power, providing insights into the overall cost of living in Luxembourg.
Q: How is this data collected or calculated?
A: The Luxembourg Statistical Office collects price data from retailers to calculate the monthly CPI for Food.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand consumer spending patterns and make informed decisions, such as adjusting wages and social benefits.
Q: Are there update delays or limitations?
A: The CPI for Food in Luxembourg is published monthly, with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food for Luxembourg (LUXCPIFODMINMEI), retrieved from FRED.