Harmonized Index of Consumer Prices: Major Household Appliances Whether Electric or Not and Small Electric Household Appliances for European Union (28 Countries)
CP0531EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.02
Year-over-Year Change
-0.87%
Date Range
12/1/2000 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for major household appliances and small electric appliances tracks price changes for a basket of consumer goods across the European Union. This data provides valuable insights into inflationary trends 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 HICP is a standardized measure of consumer inflation used by the European Union. The major household appliances and small electric appliances index specifically monitors price fluctuations for a selection of durable and non-durable goods, offering economists and policymakers a granular view of consumer behavior.
Methodology
This index is calculated based on price surveys conducted across the 28 EU member states.
Historical Context
Trends in this HICP index are closely watched by the European Central Bank and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- The HICP covers over 700 consumer goods and services across the EU.
- Major household appliances account for around 3% of the total HICP basket.
- The index uses 2015 as its base year for price comparisons.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for major household appliances and small electric appliances tracks price changes for a basket of consumer goods across the European Union.
Q: Why is this trend relevant for users or analysts?
A: Trends in this HICP index are closely watched by the European Central Bank and other institutions to inform monetary and fiscal policy decisions, as it provides valuable insights into inflationary pressures and consumer spending patterns.
Q: How is this data collected or calculated?
A: This index is calculated based on price surveys conducted across the 28 EU member states.
Q: How is this trend used in economic policy?
A: The HICP for major household appliances and small electric appliances is used by the European Central Bank and other policymakers to monitor inflationary trends and consumer behavior, which informs decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The HICP data is typically published on a monthly basis, with some potential for minor delays in data reporting across the 28 EU member states.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Major Household Appliances Whether Electric or Not and Small Electric Household Appliances for European Union (28 Countries) (CP0531EU28M086NEST), retrieved from FRED.