Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for United States
USACP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
145.03
Year-over-Year Change
5.00%
Date Range
12/1/2009 - 12/1/2023
Summary
The Consumer Price Index for Restaurants and Hotels (COICOP 11) tracks changes in consumer prices for dining out, lodging, and related services in the United States. This key economic indicator provides insights into inflation trends and consumer spending patterns.
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 component of the Consumer Price Index (CPI) measures the changes in prices paid by consumers for food consumed away from home, as well as accommodations and other hospitality services. This index is a valuable tool for understanding consumer behavior, assessing the impact of inflation, and informing economic policymaking.
Methodology
The data is collected through surveys of consumer expenditures and price observations by the U.S. Bureau of Labor Statistics.
Historical Context
The Restaurants and Hotels CPI is closely monitored by economists, policymakers, and businesses to gauge the strength of the service sector and consumer demand.
Key Facts
- The Restaurants and Hotels CPI is a component of the broader Consumer Price Index.
- The index tracks prices for a wide range of dining, lodging, and hospitality services.
- Changes in the Restaurants and Hotels CPI can signal shifts in consumer spending patterns.
FAQs
Q: What does this economic trend measure?
A: The Restaurants and Hotels Consumer Price Index (COICOP 11) measures changes in the prices consumers pay for food consumed away from home, as well as accommodations and other hospitality services.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into consumer spending patterns and inflation trends in the service sector, which is critical for understanding the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and price observations by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels CPI is closely monitored by economists and policymakers to assess the strength of the service sector and consumer demand, which informs economic decision-making.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI data is published monthly by the U.S. Bureau of Labor Statistics, with a typical release lag of about two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for United States (USACP110000IXNBM), retrieved from FRED.