Harmonized Index of Consumer Prices: Overall Index Excluding Tobacco for Euro Area (18 countries)
00XTOBEZ18M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.56
Year-over-Year Change
10.16%
Date Range
12/1/2000 - 11/1/2022
Summary
The Harmonized Index of Consumer Prices (HICP) Excluding Tobacco for the Euro Area (18 countries) measures the change in the average cost of a basket of consumer goods and services, excluding tobacco products.
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 HICP is a key economic indicator used to assess price stability within the Eurozone. Excluding tobacco allows for a more accurate measurement of consumer inflation, as tobacco prices can be influenced by tax policy rather than just market forces.
Methodology
The data is collected through surveys of consumer expenditures and prices across the 18 Eurozone member states.
Historical Context
Central banks and policymakers rely on the HICP to guide monetary policy decisions and manage inflation targets.
Key Facts
- The HICP Excluding Tobacco has a base year of 2015.
- It covers around 60% of household final monetary consumption expenditure.
- The Eurozone includes 19 of the 27 European Union member states.
FAQs
Q: What does this economic trend measure?
A: The HICP Excluding Tobacco measures the change in the average cost of a basket of consumer goods and services in the Eurozone, excluding tobacco products.
Q: Why is this trend relevant for users or analysts?
A: The HICP is a key indicator used by the European Central Bank and policymakers to assess price stability and guide monetary policy decisions within the Eurozone.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and prices across the 18 Eurozone member states.
Q: How is this trend used in economic policy?
A: Central banks and policymakers use the HICP to monitor inflation and make decisions to maintain price stability, which is a key objective of the European Central Bank's monetary policy.
Q: Are there update delays or limitations?
A: The HICP data is typically published on a monthly basis with a short delay, allowing for timely assessment of price trends in the Eurozone.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Overall Index Excluding Tobacco for Euro Area (18 countries) (00XTOBEZ18M086NEST), retrieved from FRED.