Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Austria
AUTCPHP1100GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.30
Year-over-Year Change
-50.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Austria measures the inflation in prices for dining, lodging, and other hospitality services in Austria.
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 indicator provides insights into consumer spending patterns and inflationary pressures within Austria's service sector, which is a critical component of the country's economy.
Methodology
The data is collected through a nationwide survey of consumer prices.
Historical Context
Economists and policymakers closely monitor this index to assess the state of Austria's service industry and broader economic conditions.
Key Facts
- Austria's hospitality sector accounts for over 8% of GDP.
- Prices in this index have risen by an average of 2.5% annually over the past decade.
- Monitoring this index helps policymakers gauge the impact of economic policies on consumer spending.
FAQs
Q: What does this economic trend measure?
A: This index measures the changes in prices paid by Austrian consumers for restaurant meals, hotel stays, and other hospitality services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into inflationary pressures and consumer spending patterns within Austria's critical service sector.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices for a representative basket of hospitality services.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this index to assess the health of Austria's service industry and make informed decisions about economic policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 2-3 weeks, providing timely insights into price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Austria (AUTCPHP1100GPM), retrieved from FRED.