Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Slovak Republic
SVKCP030000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.10
Year-over-Year Change
5.63%
Date Range
1/1/2002 - 11/1/2023
Summary
The Consumer Price Index for Clothing and Footwear (COICOP 03) tracks changes in the prices paid by consumers for apparel and related items in Slovakia. This key economic indicator provides insights into consumer spending patterns and inflationary pressures.
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 Clothing and Footwear CPI measures the price movements of a fixed basket of consumer goods and services related to clothing, shoes, and accessories in Slovakia. It is a component of the broader Consumer Price Index and is used to monitor inflation, inform monetary policy decisions, and analyze consumer behavior.
Methodology
The data is collected through regular price surveys of a representative sample of retail outlets across Slovakia.
Historical Context
Policymakers and analysts closely monitor the Clothing and Footwear CPI to assess the overall cost of living and its impact on consumer purchasing power.
Key Facts
- The Clothing and Footwear CPI is a component of the broader Consumer Price Index in Slovakia.
- This index provides insights into inflationary pressures and consumer spending patterns in the apparel and footwear sector.
- Policymakers use the Clothing and Footwear CPI to inform monetary policy decisions and assess the overall cost of living.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Clothing and Footwear (COICOP 03) measures changes in the prices paid by consumers for a fixed basket of apparel and related items in Slovakia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into inflationary pressures and consumer spending patterns in the apparel and footwear sector, which is important for policymakers and analysts assessing the overall cost of living in Slovakia.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative sample of retail outlets across Slovakia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the Clothing and Footwear CPI to assess the overall cost of living and its impact on consumer purchasing power, which informs monetary policy decisions.
Q: Are there update delays or limitations?
A: The Clothing and Footwear CPI data is subject to the same update schedule and potential limitations as the broader Consumer Price Index in Slovakia.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Slovak Republic (SVKCP030000IXNBM), retrieved from FRED.