Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Czech Republic
Monthly
CZECP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.41
Year-over-Year Change
-122.24%
Date Range
2/1/1994 - 11/1/2023
Summary
The Monthly trend measures the monthly change in the price of consumer goods and services in the Czech Republic. It is a key economic indicator used to track inflation and inform monetary policy decisions.
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 Monthly trend represents the monthly percentage change in the Czech Consumer Price Index (CPI), which tracks the average change in prices paid by consumers for a basket of goods and services. This metric is closely monitored by the Czech National Bank and other policymakers to assess the state of the economy and guide monetary policy.
Methodology
The Czech Statistical Office collects price data from a sample of businesses and households to calculate the monthly CPI.
Historical Context
The Monthly trend is used to inform the Czech National Bank's inflation targeting policy and guide interest rate decisions.
Key Facts
- The Czech Republic has an inflation target of 2% set by the Czech National Bank.
- Consumer prices in the Czech Republic increased by 3.7% in the past 12 months.
- The Monthly trend is released on a monthly basis by the Czech Statistical Office.
FAQs
Q: What does this economic trend measure?
A: The Monthly trend measures the monthly percentage change in the Czech Consumer Price Index, which tracks the average change in prices paid by consumers for a basket of goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Monthly trend is a key economic indicator used to assess the state of inflation in the Czech Republic, which is closely monitored by the Czech National Bank and other policymakers to guide monetary policy decisions.
Q: How is this data collected or calculated?
A: The Czech Statistical Office collects price data from a sample of businesses and households to calculate the monthly Consumer Price Index.
Q: How is this trend used in economic policy?
A: The Monthly trend is used by the Czech National Bank to inform its inflation targeting policy and guide interest rate decisions to maintain price stability in the Czech economy.
Q: Are there update delays or limitations?
A: The Monthly trend is released on a monthly basis by the Czech Statistical Office with no significant update delays.
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Citation
U.S. Federal Reserve, Monthly (CZECP010000GPM), retrieved from FRED.