Consumer Price Index: Harmonised prices: Restaurants and hotels (COICOP 11): Total for the European Union
Growth rate same period previous year
EU28CPHP1100GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.40
Year-over-Year Change
20.00%
Date Range
12/1/2000 - 1/1/2020
Summary
The 'Growth rate same period previous year' measures the annual change in consumer prices for the European Union. This key economic indicator is closely monitored by policymakers, analysts, and businesses.
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 metric tracks the year-over-year percentage change in the Harmonized Index of Consumer Prices (HICP) across the 28 EU member states. It provides insight into inflationary trends and consumer purchasing power.
Methodology
The data is collected and calculated by Eurostat based on a harmonized methodology across EU countries.
Historical Context
The EU28 inflation rate is a crucial input for monetary policy decisions by the European Central Bank.
Key Facts
- The EU28 inflation rate averaged 2.0% in 2022.
- Inflation reached a record high of 10.6% in October 2022.
- The ECB aims to maintain inflation at 2% over the medium term.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' tracks the annual percentage change in consumer prices across the 28 member states of the European Union.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insight into inflationary pressures and consumer purchasing power, which are critical factors for policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat based on a harmonized methodology for the Harmonized Index of Consumer Prices (HICP) across the EU.
Q: How is this trend used in economic policy?
A: The EU28 inflation rate is a key input for monetary policy decisions by the European Central Bank as it works to maintain price stability in the eurozone.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis with a lag of around 2-3 weeks.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (EU28CPHP1100GYM), retrieved from FRED.