Consumer Price Index: Harmonised prices: Communication (COICOP 08): Total for the European Union
Growth rate same period previous year
EU28CPHP0800GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.00
Year-over-Year Change
-47.37%
Date Range
12/1/2000 - 1/1/2020
Summary
The 'Growth rate same period previous year' metric measures the year-over-year percent change in the Harmonized Index of Consumer Prices (HICP) for the European Union. This key economic indicator provides insights into inflationary trends 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 HICP growth rate year-over-year is a widely-tracked economic indicator that assesses changes in the overall price level of consumer goods and services compared to the same period in the prior year. It is a critical gauge of inflation used by policymakers and analysts to inform economic forecasting and decision-making.
Methodology
The HICP data is collected by national statistical agencies and aggregated by Eurostat.
Historical Context
Central banks and fiscal authorities closely monitor HICP trends to guide monetary and fiscal policies aimed at maintaining price stability.
Key Facts
- The EU28 HICP growth rate averaged 1.6% from 2010-2019.
- Inflation above the European Central Bank's 2% target can prompt interest rate hikes.
- HICP is a key input for the European Central Bank's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' metric measures the year-over-year percent change in the Harmonized Index of Consumer Prices (HICP) for the European Union.
Q: Why is this trend relevant for users or analysts?
A: The HICP growth rate is a critical gauge of inflation used by policymakers and analysts to inform economic forecasting and decision-making.
Q: How is this data collected or calculated?
A: The HICP data is collected by national statistical agencies and aggregated by Eurostat.
Q: How is this trend used in economic policy?
A: Central banks and fiscal authorities closely monitor HICP trends to guide monetary and fiscal policies aimed at maintaining price stability.
Q: Are there update delays or limitations?
A: The HICP data is published monthly with a typical 2-3 week lag.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (EU28CPHP0800GYM), retrieved from FRED.