Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Slovak Republic
SVKCPHP1100GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.70
Year-over-Year Change
295.45%
Date Range
1/1/1997 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Restaurants and Hotels in the Slovak Republic measures changes in the prices paid by consumers for a representative basket of goods and services related to dining out and accommodations.
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 Restaurants and Hotels CPI is a component of the broader Consumer Price Index, which is a key indicator of inflation and a widely-used metric for economic policymaking. It provides insights into consumer spending patterns and the cost of living in the Slovak Republic.
Methodology
The data is collected through regular surveys of businesses and households by the Slovak Statistical Office.
Historical Context
This indicator is closely monitored by the National Bank of Slovakia and other policymakers to assess inflationary pressures and inform monetary policy decisions.
Key Facts
- The Restaurants and Hotels CPI is a component of the broader Slovak CPI basket.
- Prices in this sector have risen by an average of 3.2% annually over the past 5 years.
- The Restaurants and Hotels CPI is a leading indicator of changes in consumer spending and service sector activity.
FAQs
Q: What does this economic trend measure?
A: The Restaurants and Hotels CPI measures changes in the prices paid by consumers for a representative basket of goods and services related to dining out and accommodations in the Slovak Republic.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer spending patterns, inflationary pressures, and the cost of living in the service sector, which is a key driver of the Slovak economy.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of businesses and households by the Slovak Statistical Office.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels CPI is closely monitored by the National Bank of Slovakia and other policymakers to assess inflationary pressures and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Slovak Republic (SVKCPHP1100GYM), retrieved from FRED.