Consumer Price Index: Harmonized Prices: All Items: Total for Slovak Republic
CPHPTT01SKM657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.20
Year-over-Year Change
-80.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: All Items: Total for Slovak Republic tracks changes in the cost of a basket of consumer goods and services in Slovakia. This broad measure of inflation is closely monitored by policymakers and economists.
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 Consumer Price Index (CPI) is a key economic indicator that measures the overall price level of consumer goods and services in a given country. The harmonized CPI for Slovakia provides a standardized measure of inflation across the European Union, allowing for international comparisons.
Methodology
The data is collected through surveys of retail prices and calculated as a weighted average of price changes for a representative basket of consumer items.
Historical Context
The Slovak CPI is used by the European Central Bank and other institutions to assess price stability and make monetary policy decisions.
Key Facts
- The base year for the Slovak CPI is 2015.
- Slovakia joined the Eurozone in 2009.
- The CPI is published monthly by the Statistical Office of the Slovak Republic.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Slovakia measures the changes in the prices of a representative basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Slovak CPI is a key indicator of inflation that is closely watched by policymakers, businesses, and consumers to assess changes in the overall cost of living.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail prices and calculated as a weighted average of price changes for a representative basket of consumer items.
Q: How is this trend used in economic policy?
A: The Slovak CPI is used by the European Central Bank and other institutions to assess price stability and make monetary policy decisions that impact interest rates, inflation, and economic growth.
Q: Are there update delays or limitations?
A: The Slovak CPI is published monthly with a typical delay of around 2 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: All Items: Total for Slovak Republic (CPHPTT01SKM657N), retrieved from FRED.