Harmonized Index of Consumer Prices: Pets and Related Products; Veterinary and Other Services for Pets for Denmark
CP0934DKM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.00
Year-over-Year Change
1.82%
Date Range
1/1/1996 - 7/1/2025
Summary
The Harmonized Index of Consumer Prices (HICP) for Pets and Related Products; Veterinary and Other Services for Pets measures price changes for pet-related goods and services in Denmark. This metric is important for understanding consumer inflation and cost-of-living trends in the Danish 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 for Pets and Related Products; Veterinary and Other Services for Pets is a component of the broader HICP, which is the primary measure of consumer price inflation used by the European Union. This sub-index provides insights into price dynamics in the pet care market and can inform economic policy decisions.
Methodology
The data is collected through a nationwide survey of consumer transactions.
Historical Context
Policymakers and analysts use this HICP component to assess inflationary pressures and consumer purchasing power.
Key Facts
- The HICP for Pets and Related Products; Veterinary and Other Services for Pets has a base year of 2015.
- Denmark's pet care market is estimated at over €1 billion annually.
- This HICP component makes up approximately 0.5% of the overall Danish HICP basket.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Pets and Related Products; Veterinary and Other Services for Pets measures the change in prices for pet-related goods and services in Denmark.
Q: Why is this trend relevant for users or analysts?
A: This HICP sub-index provides insights into consumer inflation within the pet care market, which is an important component of overall household spending in Denmark.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer transactions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this HICP component to assess inflationary pressures and consumer purchasing power within the Danish economy.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Pets and Related Products; Veterinary and Other Services for Pets for Denmark (CP0934DKM086NEST), retrieved from FRED.