Harmonized Index of Consumer Prices: Cleaning, Repair and Hire of Clothing for European Union (27 Countries from 2020)
CP0314EU272020M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.75
Year-over-Year Change
3.61%
Date Range
12/1/2000 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Cleaning, Repair and Hire of Clothing tracks price changes for services related to maintaining and renting clothing in the European Union. This metric is a key indicator of consumer price inflation 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 HICP is a standardized measure of consumer price inflation across European Union member states, allowing for cross-country comparisons. The Cleaning, Repair and Hire of Clothing component provides insight into the costs of maintaining and accessing clothing, an essential household expenditure.
Methodology
The HICP data is collected through surveys of consumer prices and expenditures by national statistical agencies.
Historical Context
Policymakers and economists closely monitor HICP trends to assess inflationary pressures and guide monetary policy decisions.
Key Facts
- The HICP tracks consumer price changes in the EU since 1996.
- Clothing maintenance services represent around 4% of the typical EU household budget.
- The EU's HICP aims to enable cross-country inflation comparisons.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Cleaning, Repair and Hire of Clothing tracks the prices paid by consumers in the European Union for services related to maintaining and renting clothing.
Q: Why is this trend relevant for users or analysts?
A: This HICP component provides insight into a key household expenditure and an important indicator of consumer price inflation within the EU.
Q: How is this data collected or calculated?
A: The HICP data is collected through surveys of consumer prices and expenditures by national statistical agencies across the EU.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor HICP trends to assess inflationary pressures and guide monetary policy decisions within the European Union.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a lag of around one month.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Cleaning, Repair and Hire of Clothing for European Union (27 Countries from 2020) (CP0314EU272020M086NEST), retrieved from FRED.