Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Estonia
ESTCPHP1100IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
150.90
Year-over-Year Change
8.48%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Estonia measures the change in prices for dining out and accommodation services in Estonia.
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
This index tracks the prices paid by Estonian consumers for restaurant meals, cafe items, hotel stays, and other hospitality services. It is a key indicator of inflationary pressures in the service sector and can inform economic policymaking.
Methodology
The data is collected through regular price surveys of a representative sample of businesses and service providers.
Historical Context
Policymakers and analysts use this index to understand Estonia's service sector inflation and consumer spending patterns.
Key Facts
- Estonia's restaurant and hotel prices account for over 11% of the total consumer price index.
- Prices in this sector have risen by an average of 3.5% annually over the past decade.
- The index is updated monthly by Eurostat.
FAQs
Q: What does this economic trend measure?
A: This index measures the change in prices for dining out, hotel stays, and other hospitality services in Estonia.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into inflationary pressures in Estonia's service sector, which is crucial for understanding consumer spending patterns and informing economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative sample of businesses and service providers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor Estonia's service sector inflation and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The index is updated monthly by Eurostat with no significant delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Restaurants and Hotels (COICOP 11): Total for Estonia (ESTCPHP1100IXEBM), retrieved from FRED.