Consumer Price Index: OECD Groups: Services: Total for Portugal
PRTCPGRSE01GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.07
Year-over-Year Change
41.62%
Date Range
1/1/1960 - 10/1/2023
Summary
The Consumer Price Index (CPI) for Services: Total in Portugal, published by the OECD, measures changes in the prices paid by consumers for a basket of services. This key economic indicator provides insights into inflation trends 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 Services: Total in Portugal is a component of the broader CPI, which tracks the average change in prices paid by consumers for a representative basket of goods and services. The services CPI is a vital metric for policymakers and analysts to understand inflationary pressures and consumer behavior in the service sector.
Methodology
The data is collected through surveys of consumer expenditures and prices by the Portuguese national statistical agency.
Historical Context
The services CPI is used by the Bank of Portugal and other policymakers to inform monetary policy decisions and economic forecasts.
Key Facts
- Portugal's services CPI has risen by an average of 1.5% annually over the past decade.
- The services sector accounts for over 60% of Portugal's GDP.
- Shelter and utilities are the largest components of the Portuguese services CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Services: Total in Portugal measures changes in the prices paid by consumers for a basket of services in the country.
Q: Why is this trend relevant for users or analysts?
A: The services CPI is a key indicator of inflationary pressures and consumer purchasing power in the service sector, which is a vital part of the Portuguese economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and prices by the Portuguese national statistical agency.
Q: How is this trend used in economic policy?
A: The services CPI is used by the Bank of Portugal and other policymakers to inform monetary policy decisions and economic forecasts.
Q: Are there update delays or limitations?
A: The services CPI data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Services: Total for Portugal (PRTCPGRSE01GPQ), retrieved from FRED.