Harmonized Index of Consumer Prices: Oils and Fats for European Union (28 Countries)
CP0115EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.55
Year-over-Year Change
-3.48%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices: Oils and Fats for the European Union (28 countries) tracks changes in the cost of a basket of household oil and fat products. This metric provides insight into inflationary pressures and consumer purchasing power within the EU.
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 Harmonized Index of Consumer Prices (HICP) is a key economic indicator used to measure and compare consumer price inflation across European Union member states. The Oils and Fats component specifically monitors price changes for items like cooking oils, butter, and margarine, which are staple household goods.
Methodology
The data is collected through surveys of consumer expenditures and prices by national statistical agencies.
Historical Context
Policymakers at the European Central Bank utilize HICP data, including the Oils and Fats index, to guide monetary policy decisions aimed at maintaining price stability.
Key Facts
- The Oils and Fats HICP is a component of the overall EU-wide consumer price index.
- Prices for oils and fats account for around 3% of the total HICP basket.
- This index has shown steady increases in recent years, reflecting higher global commodity prices.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices: Oils and Fats for the European Union (28 countries) tracks changes in the prices of household oil and fat products.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into inflationary pressures and consumer purchasing power for a key household good category within the EU.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and prices by national statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers at the European Central Bank utilize HICP data, including the Oils and Fats index, to guide monetary policy decisions aimed at maintaining price stability.
Q: Are there update delays or limitations?
A: The Oils and Fats HICP is published monthly with a lag of around 2 months from the reference period.
Related Trends
Harmonized Index of Consumer Prices: Overall Index Excluding Energy, Food, Alcohol, and Tobacco for European Union (27 Countries from 2020)
00XEFDEU272020M086NEST
Harmonized Index of Consumer Prices: Miscellaneous Printed Matter, Stationery, and Drawing Materials for European Union (27 Countries from 2020)
CP0953EU272020M086NEST
Inactivity Rate: Aged 15 and Over: Males for the European Union
LRINTTMAEUQ156S
Harmonized Index of Consumer Prices: Electricity for European Union
CP0451EUCCM086NEST
Inactive Population: Aged 25-54: Females for the European Union
LFIN25FEEUA647S
Harmonized Index of Consumer Prices: Restaurants, Cafes and the Like for European Union (28 Countries)
CP1111EU28M086NEST
Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Oils and Fats for European Union (28 Countries) (CP0115EU28M086NEST), retrieved from FRED.