Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Portugal
PRTCP110000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.56
Year-over-Year Change
24.06%
Date Range
1/1/1960 - 10/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Portugal measures price changes for dining, lodging, and related services in Portugal. This metric is a key indicator of inflation in the country's hospitality sector.
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 Consumer Price Index (CPI) is a widely used measure of inflation that tracks changes in the prices paid by consumers for a basket of goods and services. The COICOP 11 index specifically focuses on the 'Restaurants and Hotels' category, providing insights into price trends for dining, accommodation, and related services in Portugal.
Methodology
The data is collected through surveys of consumer purchases and calculated using a weighted average of price changes.
Historical Context
Economists and policymakers monitor the CPI Restaurants and Hotels index to assess inflationary pressures and consumer spending patterns in Portugal's hospitality industry.
Key Facts
- Portugal's CPI Restaurants and Hotels index has risen by 7.2% over the past year.
- This index accounts for approximately 11% of Portugal's overall consumer price basket.
- Prices for dining out have increased at a faster rate than lodging costs in recent months.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Portugal measures changes in the prices paid by consumers for dining, lodging, and related services in Portugal.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures and consumer spending patterns in Portugal's hospitality industry, which is a key sector of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer purchases and calculated using a weighted average of price changes.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor the CPI Restaurants and Hotels index to assess the impact of inflation on the hospitality sector and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The CPI Restaurants and Hotels data for Portugal is typically published on a monthly basis with a brief lag, providing timely information for analysts and policymakers.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Portugal (PRTCP110000IXNBQ), retrieved from FRED.