Consumer Price Index: Harmonised prices: Health (COICOP 06): Total for the European Union
EU28CPHP0600GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.20
Year-over-Year Change
0.00%
Date Range
1/1/2000 - 1/1/2020
Summary
The Consumer Price Index: Harmonised prices: Health (COICOP 06): Total for the European Union measures inflation in the health sector across the EU member states. This key economic indicator provides insights into the cost of healthcare and its impact on consumer spending and the overall economy.
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 Harmonised Index of Consumer Prices (HICP) is a standardized measure of inflation used across the European Union. The Health (COICOP 06) component specifically tracks price changes for a basket of healthcare goods and services, offering a comprehensive view of medical costs faced by consumers.
Methodology
The data is collected by national statistical agencies and aggregated by Eurostat to produce the EU-wide HICP health index.
Historical Context
Policymakers and economists closely monitor this index to understand inflationary pressures in the health sector and its implications for consumer welfare and fiscal policy.
Key Facts
- The HICP health index uses a common methodology across the EU.
- Health spending accounts for a significant portion of consumer budgets.
- Rising healthcare costs can impact overall inflation and economic growth.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonised prices: Health (COICOP 06): Total for the European Union measures changes in the prices of healthcare goods and services across the EU member states.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures in the healthcare sector, which can have significant implications for consumer spending, government budgets, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by national statistical agencies and aggregated by Eurostat to produce the EU-wide HICP health index.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to understand healthcare costs and their impact on consumer welfare and fiscal policy.
Q: Are there update delays or limitations?
A: The HICP health index is released on a monthly basis, with a typical lag of around one month.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonised prices: Health (COICOP 06): Total for the European Union (EU28CPHP0600GPM), retrieved from FRED.