Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Czech Republic
CZECP030000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-30.46%
Date Range
2/1/1995 - 11/1/2023
Summary
The Consumer Price Index for Clothing and Footwear (COICOP 03) measures the price changes of apparel, footwear, and related items in the Czech Republic. This metric is a key indicator of consumer inflation and household spending patterns.
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 Clothing and Footwear CPI is a subcomponent of the overall Consumer Price Index, which tracks the average change in prices paid by consumers for a basket of goods and services. Analysts use this data to assess inflationary pressures and consumer purchasing power within the Czech economy.
Methodology
The Czech Statistical Office collects retail price data from a sample of stores and service providers to calculate the Clothing and Footwear CPI.
Historical Context
Policymakers and economists monitor this CPI component to understand household consumption behavior and inflationary trends.
Key Facts
- The Clothing and Footwear CPI accounts for around 4% of the total Czech CPI basket.
- Clothing and footwear prices in the Czech Republic have increased by an average of 2.3% annually over the past decade.
- Consumers in the Czech Republic allocate approximately 5% of their household budgets to clothing and footwear purchases.
FAQs
Q: What does this economic trend measure?
A: The Clothing and Footwear CPI measures the price changes of apparel, shoes, and related items purchased by consumers in the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This CPI component provides insights into consumer spending patterns and inflationary pressures within the Czech economy.
Q: How is this data collected or calculated?
A: The Czech Statistical Office collects retail price data from a sample of stores to calculate the Clothing and Footwear CPI.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this CPI component to understand household consumption behavior and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Clothing and Footwear CPI data for the Czech Republic is published monthly with a typical 2-week delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Czech Republic (CZECP030000GPM), retrieved from FRED.