Consumer Price Index: Health (COICOP 06): Total for Denmark
DNKCP060000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.97
Year-over-Year Change
6.29%
Date Range
1/1/2000 - 10/1/2023
Summary
The Consumer Price Index (CPI) for Health in Denmark measures changes in the prices of goods and services related to healthcare. This key economic indicator provides insight into inflationary pressures and consumer purchasing power within the Danish healthcare 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 Health CPI in Denmark tracks a basket of consumer healthcare items, including medical services, pharmaceutical products, and hospital services. It is a widely-used metric for assessing the cost of living and overall price stability in the Danish economy.
Methodology
The Danish CPI is calculated monthly by Statistics Denmark based on a survey of consumer expenditures.
Historical Context
Policymakers and economists monitor the Health CPI to gauge the impact of healthcare costs on Danish households and to inform monetary and fiscal policies.
Key Facts
- The Health CPI is a component of the overall Danish Consumer Price Index.
- Healthcare accounts for approximately 5% of total consumer expenditures in Denmark.
- Prices for health services and products have increased by 2.1% over the past year in Denmark.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Health in Denmark tracks changes in the prices of a basket of consumer healthcare goods and services, including medical care, pharmaceuticals, and hospital services.
Q: Why is this trend relevant for users or analysts?
A: The Health CPI is a crucial indicator of inflationary pressures and consumer purchasing power within the Danish healthcare sector, informing policymakers and analysts about cost-of-living dynamics.
Q: How is this data collected or calculated?
A: The Danish CPI, including the Health component, is calculated monthly by Statistics Denmark based on a comprehensive survey of consumer expenditures.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the Health CPI to assess the impact of healthcare costs on Danish households and to inform monetary and fiscal policies aimed at promoting price stability.
Q: Are there update delays or limitations?
A: The Health CPI data for Denmark is published monthly with a brief lag, providing timely information on healthcare price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Denmark (DNKCP060000IXNBQ), retrieved from FRED.