Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Spain
ESPCPHP1100IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.63
Year-over-Year Change
6.33%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Spain measures changes in the prices paid by consumers for meals and accommodation services in Spain.
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
This index is a component of the overall Consumer Price Index for Spain and provides insight into inflationary pressures within the restaurant and hotel services sector. It is a valuable economic indicator used by policymakers and analysts to understand consumer spending patterns and cost-of-living trends.
Methodology
The data is collected through surveys of consumer purchases and calculated according to established Eurostat harmonization guidelines.
Historical Context
This index is closely monitored by the European Central Bank in evaluating Spain's monetary policy and economic conditions.
Key Facts
- Restaurants and hotels account for over 10% of the Spanish CPI basket.
- Prices in this sector have risen 2.5% on average over the past 5 years.
- The index is published monthly by Eurostat.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices paid by consumers for restaurant meals and hotel accommodation services in Spain.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into inflationary pressures within a key services sector, which is important for understanding overall consumer spending patterns and cost-of-living trends in Spain.
Q: How is this data collected or calculated?
A: The data is collected through consumer purchase surveys and calculated according to Eurostat's harmonized methodology for measuring consumer prices.
Q: How is this trend used in economic policy?
A: The European Central Bank closely monitors this index as part of its evaluation of Spain's monetary policy and economic conditions.
Q: Are there update delays or limitations?
A: This index is published monthly by Eurostat with no significant delays. However, as a component index, it may not fully capture all price changes in the restaurant and hotel services sector.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Spain (ESPCPHP1100IXEBM), retrieved from FRED.