Harmonized Index of Consumer Prices: Purchase of Vehicles for Luxembourg
CP0710LUM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.77
Year-over-Year Change
0.61%
Date Range
1/1/1996 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for the purchase of vehicles in Luxembourg measures changes in the prices paid by consumers for this category of goods and services. This trend is a key indicator of inflationary pressures in the Luxembourg economy.
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 countries. The vehicle purchase sub-index tracks price changes for things like new and used cars, motorcycles, and bicycles. Monitoring this can provide insights into consumer demand and price dynamics in the transportation sector.
Methodology
The data is collected through a nationwide survey of retail prices.
Historical Context
Policymakers and analysts use the HICP to assess the overall rate of inflation and make informed decisions.
Key Facts
- Luxembourg's HICP for vehicle purchases has a base year of 2015.
- The vehicle purchase sub-index accounts for approximately 8% of the total HICP basket.
- Prices for this category have risen by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices for the purchase of vehicles in Luxembourg measures changes in the prices paid by consumers for this category of goods and services.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this sub-index can provide insights into consumer demand and price dynamics in the transportation sector, which is an important component of the overall Luxembourg economy.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of retail prices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the HICP to assess the overall rate of inflation and make informed decisions.
Q: Are there update delays or limitations?
A: The HICP data is typically published on a monthly basis with a short delay.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Purchase of Vehicles for Luxembourg (CP0710LUM086NEST), retrieved from FRED.