Consumer Price Index: Transport (COICOP 07): Total for Czech Republic
CZECP070000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.11
Year-over-Year Change
9.52%
Date Range
2/1/1995 - 11/1/2023
Summary
The Consumer Price Index: Transport (COICOP 07): Total for the Czech Republic measures changes in the prices of transportation goods and services in the country. This important economic indicator helps track inflation and consumer purchasing power.
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 widely used measure of inflation, tracking changes in the prices of a basket of consumer goods and services. The Transport (COICOP 07) component specifically covers costs related to personal transportation, including vehicle purchases, fuel, and public transit fares.
Methodology
The Czech Statistical Office collects price data from a sample of retail outlets and service providers to calculate the CPI.
Historical Context
Policymakers and economists closely monitor the CPI-Transport index to understand trends in consumer inflation and their impacts on the broader economy.
Key Facts
- The CPI-Transport index has a base year of 2015 = 100.
- Transportation costs account for approximately 15% of the total Czech CPI basket.
- The CPI-Transport index reached a record high of 127.4 in June 2022.
FAQs
Q: What does this economic trend measure?
A: The CPI-Transport index measures changes in the prices of transportation goods and services, including vehicle purchases, fuel, and public transit fares, in the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of consumer inflation, as transportation costs are a significant component of household spending. Monitoring CPI-Transport helps economists and policymakers understand pressures on consumer purchasing power.
Q: How is this data collected or calculated?
A: The Czech Statistical Office collects price data from a sample of retail outlets and service providers to calculate the CPI-Transport index.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use the CPI-Transport index, along with other CPI components, to assess inflationary pressures and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The CPI-Transport data for the Czech Republic is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Czech Republic (CZECP070000GPM), retrieved from FRED.