Harmonized Index of Consumer Prices: Repair of Furniture, Furnishings and Floor Coverings for Finland
CP0513FIM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.64
Year-over-Year Change
2.54%
Date Range
1/1/1996 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Repair of Furniture, Furnishings and Floor Coverings measures the changes in prices paid by Finnish consumers for these household services. It is a key economic indicator for analyzing consumer spending patterns and inflationary trends.
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 the European Union. The Repair of Furniture, Furnishings and Floor Coverings component tracks price changes for professional services related to maintaining and repairing household items, providing insights into consumer behavior and overall economic conditions.
Methodology
This data is collected through surveys of Finnish households and businesses by Statistics Finland.
Historical Context
Policymakers and economists closely monitor HICP trends to assess the effectiveness of monetary and fiscal policies.
Key Facts
- HICP covers around 700 consumer goods and services.
- Repair of Furniture accounts for about 0.4% of the total HICP basket in Finland.
- Finland's HICP inflation rate was 7.2% in 2022.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Repair of Furniture, Furnishings and Floor Coverings measures the changes in prices paid by Finnish consumers for these household services.
Q: Why is this trend relevant for users or analysts?
A: This HICP component provides insights into consumer spending patterns and inflationary pressures within the Finnish economy, which is valuable information for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Finnish households and businesses by Statistics Finland.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor HICP trends to assess the effectiveness of monetary and fiscal policies in managing inflation and supporting consumer demand.
Q: Are there update delays or limitations?
A: The HICP data is published monthly by Eurostat with a lag of around 2 months.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Repair of Furniture, Furnishings and Floor Coverings for Finland (CP0513FIM086NEST), retrieved from FRED.