Harmonized Index of Consumer Prices: Restaurants and Hotels for European Union (28 Countries)
CP1100EU28M086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.98
Year-over-Year Change
2.31%
Date Range
12/1/1999 - 1/1/2020
Summary
The Harmonized Index of Consumer Prices (HICP) for Restaurants and Hotels measures changes in consumer prices for dining and accommodation services across the European Union (28 countries). This key economic indicator provides insights into inflationary pressures and consumer spending habits in the hospitality sector.
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 Restaurants and Hotels is a subcomponent of the broader HICP, which tracks the changes in prices of a basket of consumer goods and services. This specific index focuses on the costs associated with eating out and staying in hotels, motels, and other accommodation. Economists and policymakers monitor this data to assess consumer behavior and broader economic conditions.
Methodology
The HICP data is collected through surveys of consumer prices in each EU member state and aggregated to the regional level.
Historical Context
The Restaurants and Hotels HICP is a crucial input for the European Central Bank's monetary policy decisions and provides context for analysts tracking the EU's economic performance.
Key Facts
- The HICP for Restaurants and Hotels uses 2015 as the base year.
- Dining out and accommodation account for around 9% of the total HICP basket.
- This index is reported monthly by Eurostat, the EU's statistical agency.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices (HICP) for Restaurants and Hotels measures changes in consumer prices for dining and accommodation services across the European Union (28 countries).
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into inflationary pressures and consumer spending habits in the hospitality sector, which is a crucial component of the broader EU economy.
Q: How is this data collected or calculated?
A: The HICP data is collected through surveys of consumer prices in each EU member state and aggregated to the regional level.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels HICP is a crucial input for the European Central Bank's monetary policy decisions and provides context for analysts tracking the EU's economic performance.
Q: Are there update delays or limitations?
A: This index is reported monthly by Eurostat, the EU's statistical agency, with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Restaurants and Hotels for European Union (28 Countries) (CP1100EU28M086NEST), retrieved from FRED.