Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Luxembourg
CP1231LUM086NEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.10
Year-over-Year Change
4.96%
Date Range
1/1/1996 - 6/1/2025
Summary
The Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Luxembourg measures the changes in prices of these products in Luxembourg over time. This metric is crucial for tracking inflation and consumer spending in the luxury goods 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 Harmonized Index of Consumer Prices (HICP) is a consumer price index used to measure inflation across the European Union. The Jewellery, Clocks and Watches component specifically tracks price fluctuations in this category of luxury consumer goods within Luxembourg.
Methodology
This data is collected through regular surveys of retailers and service providers in Luxembourg.
Historical Context
Policymakers and analysts use this index to assess inflationary pressures and consumer demand in the luxury goods market.
Key Facts
- Luxembourg's luxury goods market accounts for over 5% of its GDP.
- Jewellery, clocks and watches make up 3.2% of the total HICP basket in Luxembourg.
- Prices in this category have risen by an average of 2.4% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Luxembourg measures the changes in prices of these luxury consumer goods within the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for tracking inflation and consumer spending patterns in Luxembourg's luxury goods sector, which is an important part of the country's economy.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of retailers and service providers in Luxembourg.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess inflationary pressures and consumer demand in the luxury goods market, which informs economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a lag of approximately two weeks, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Harmonized Index of Consumer Prices: Jewellery, Clocks and Watches for Luxembourg (CP1231LUM086NEST), retrieved from FRED.