Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Sweden
SWECP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
701.19
Year-over-Year Change
6.06%
Date Range
1/1/1980 - 11/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11) for Sweden measures changes in the prices paid by consumers for restaurant, café, and hotel services. This key economic indicator provides insights into consumer spending and inflationary pressures in the service 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 the average change in prices paid by consumers for a basket of goods and services. The COICOP 11 sub-index specifically focuses on the restaurant, café, and hotel segment, which is an important component of the overall service economy.
Methodology
The data is collected through regular surveys of businesses and consumers by Statistics Sweden.
Historical Context
Policymakers, economists, and market analysts closely monitor the CPI to assess the state of the Swedish economy and inform decisions around monetary and fiscal policy.
Key Facts
- The CPI: Restaurants and Hotels index is a sub-component of the overall Swedish Consumer Price Index.
- The index has a base year of 2015 = 100.
- Sweden's service sector accounts for over 60% of its GDP.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Restaurants and Hotels (COICOP 11) for Sweden measures changes in the prices paid by consumers for restaurant, café, and hotel services.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures and consumer spending in the service sector, which is a crucial component of the Swedish economy.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of businesses and consumers by Statistics Sweden.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor the CPI to assess the state of the Swedish economy and inform decisions around monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published monthly by Statistics Sweden with a short delay, providing timely insights into price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Sweden (SWECP110000IXNBM), retrieved from FRED.