Harmonized Index of Consumer Prices: Footwear for European Union (28 Countries)
CP0320EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.72
Year-over-Year Change
-0.88%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Footwear in the European Union (28 countries) measures the overall price trend for footwear purchases by consumers across the EU. This key economic indicator helps policymakers and analysts gauge inflation and consumer spending patterns.
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 Footwear HICP is part of a comprehensive set of consumer price indices tracked by Eurostat to assess the health of the European economy. It provides a standardized, harmonized metric for comparing consumer prices across EU member states over time.
Methodology
The Footwear HICP is calculated based on a representative basket of footwear goods and services, with prices collected from retail outlets across the EU.
Historical Context
The Footwear HICP is used by the European Central Bank and national governments to inform monetary and fiscal policies.
Key Facts
- The Footwear HICP has a base year of 2015.
- The EU-28 footwear index reached a record high in 2022.
- Footwear accounts for around 3% of the total HICP basket.
FAQs
Q: What does this economic trend measure?
A: The Footwear HICP measures the overall price trend for footwear purchases by consumers across the European Union (28 countries).
Q: Why is this trend relevant for users or analysts?
A: The Footwear HICP is a key indicator of consumer inflation and spending patterns, which is vital information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The Footwear HICP is calculated based on a representative basket of footwear goods and services, with prices collected from retail outlets across the EU.
Q: How is this trend used in economic policy?
A: The Footwear HICP is used by the European Central Bank and national governments to inform monetary and fiscal policies aimed at managing inflation and supporting consumer spending.
Q: Are there update delays or limitations?
A: The Footwear HICP is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Footwear for European Union (28 Countries) (CP0320EU28M086NEST), retrieved from FRED.