Price Level of Household Consumption for Luxembourg
PLCCPPLUA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.07
Year-over-Year Change
-1.94%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Luxembourg measures the cost of consumer goods and services in Luxembourg relative to the European Union average. This economic indicator is important for policymakers and analysts to assess the country's purchasing power and 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
The Price Level of Household Consumption for Luxembourg tracks the prices paid by households for a basket of consumer goods and services, compared to the European Union average. This metric provides insights into Luxembourg's cost competitiveness and the standard of living for its residents.
Methodology
The data is collected through consumer price surveys and calculated as an index relative to the EU average.
Historical Context
This trend is used by economists and policymakers to evaluate Luxembourg's economic performance and competitiveness.
Key Facts
- Luxembourg has the highest price level for household consumption in the EU.
- Prices in Luxembourg are around 30% above the EU average.
- The high cost of living in Luxembourg is driven by factors like high rents and taxes.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Luxembourg measures the cost of consumer goods and services in the country relative to the European Union average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Luxembourg's cost competitiveness and the standard of living for its residents, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys and calculated as an index relative to the EU average.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to evaluate Luxembourg's economic performance and competitiveness.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly with some potential for delays in data collection and reporting.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Luxembourg (PLCCPPLUA670NRUG), retrieved from FRED.