Consumer Price Index: Communication (COICOP 08): Total for Slovak Republic
SVKCP080000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.75
Year-over-Year Change
N/A%
Date Range
2/1/2002 - 11/1/2023
Summary
The Consumer Price Index: Communication (COICOP 08): Total for Slovak Republic measures the cost of communication goods and services for consumers in Slovakia. This key economic indicator helps policymakers and analysts understand inflation and consumer spending trends.
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, tracking the average change in prices paid by consumers for a basket of goods and services. The Communication component (COICOP 08) specifically covers costs related to telecommunication, postal services, and information processing equipment.
Methodology
The data is collected through a nationwide survey of consumer prices and then aggregated to calculate the overall CPI.
Historical Context
This CPI component is used by the Slovak central bank and government to monitor inflation and inform economic policy decisions.
Key Facts
- Communication costs account for about 3.5% of the Slovak consumer price basket.
- Slovakia's communication CPI has risen by 15% over the past 5 years.
- The communication CPI is a key input for the Slovak Republic's overall inflation target.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average change in prices paid by Slovak consumers for communication goods and services, including telecommunication, postal, and information processing equipment.
Q: Why is this trend relevant for users or analysts?
A: The communication CPI is an important component of overall inflation, providing insights into consumer spending patterns and price pressures in this key economic sector.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices and then aggregated to calculate the overall CPI for the communication component.
Q: How is this trend used in economic policy?
A: The Slovak central bank and government use this CPI component to monitor inflation and inform monetary and fiscal policy decisions aimed at maintaining price stability.
Q: Are there update delays or limitations?
A: The communication CPI data is published monthly with a typical 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Slovak Republic (SVKCP080000GPM), retrieved from FRED.