Harmonized Index of Consumer Prices: Other Major Durables for Recreation and Culture for Euro Area (18 countries)
CP0920EZ18M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.07
Year-over-Year Change
8.50%
Date Range
12/1/1999 - 11/1/2022
Summary
The Harmonized Index of Consumer Prices (HICP) for other major durables for recreation and culture in the Euro area measures changes in the prices of durable goods used for recreational and cultural activities. This metric is closely watched by policymakers to assess inflationary pressures 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 comprehensive measure of consumer price inflation in the Euro area, tracking a basket of goods and services purchased by households. The 'other major durables for recreation and culture' component provides insight into consumer expenditures on durable products like audio-visual equipment, photographic gear, and other recreational items.
Methodology
The HICP data is collected through surveys of consumer prices by national statistical agencies across the Euro area member states.
Historical Context
Trends in the HICP are closely monitored by the European Central Bank as part of its mandate to maintain price stability.
Key Facts
- The HICP covers around 60% of total household final monetary consumption expenditure in the Euro area.
- The 'other major durables for recreation and culture' component accounts for about 3% of the total HICP basket.
- HICP data is released on a monthly basis, with a lag of around 2 weeks.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for other major durables for recreation and culture measures changes in the prices of durable goods used for recreational and cultural activities in the Euro area.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and inflationary pressures on durable recreational goods, which is important for policymakers and economists analyzing the broader economic environment.
Q: How is this data collected or calculated?
A: The HICP data is collected through surveys of consumer prices by national statistical agencies across the Euro area member states.
Q: How is this trend used in economic policy?
A: Trends in the HICP are closely monitored by the European Central Bank as part of its mandate to maintain price stability in the Euro area.
Q: Are there update delays or limitations?
A: HICP data is released on a monthly basis, with a lag of around 2 weeks.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Other Major Durables for Recreation and Culture for Euro Area (18 countries) (CP0920EZ18M086NEST), retrieved from FRED.