Harmonized Index of Consumer Prices: Passenger Transport by Air for Euro Area (18 countries)
CP0733EZ18M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.09
Year-over-Year Change
28.56%
Date Range
12/1/1999 - 11/1/2022
Summary
The Harmonized Index of Consumer Prices (HICP): Passenger Transport by Air for the Euro Area measures the change in prices for air travel within the 18-country Eurozone. It is a key indicator of inflation and consumer spending in the region.
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: Passenger Transport by Air tracks the prices consumers pay for airline tickets and related air travel services across the Eurozone. It is part of the broader HICP index, which is the European Union's harmonized measure of consumer inflation used for monetary policy decisions.
Methodology
The data is collected through surveys of airfare prices and calculated using a weighted average across the Eurozone countries.
Historical Context
Policymakers at the European Central Bank and national governments closely monitor this index to gauge economic conditions and consumer behavior.
Key Facts
- The Eurozone adopted the HICP in 1997 to harmonize inflation measurement.
- Air travel accounts for around 3-4% of the total HICP basket.
- Passenger air prices can be volatile due to fuel costs and seasonal demand.
FAQs
Q: What does this economic trend measure?
A: The HICP: Passenger Transport by Air measures changes in the prices consumers pay for air travel services within the 18-country Eurozone.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflation and consumer spending, providing insights into economic conditions and household behavior in the Eurozone.
Q: How is this data collected or calculated?
A: The data is gathered through surveys of airfare prices and calculated using a weighted average across the Eurozone countries.
Q: How is this trend used in economic policy?
A: The European Central Bank and national governments monitor this index to inform monetary policy decisions and assess the broader economic environment.
Q: Are there update delays or limitations?
A: The 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: Passenger Transport by Air for Euro Area (18 countries) (CP0733EZ18M086NEST), retrieved from FRED.