Consumer Price Index: Harmonised prices: All items: Total for the European Union
EU28CPHPTT01IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.00
Year-over-Year Change
1.72%
Date Range
12/1/1999 - 1/1/2020
Summary
The Consumer Price Index (CPI) for Harmonised Prices measures the changes in the cost of a basket of consumer goods and services in the European Union. It is a key economic indicator used to monitor inflation and inform policy decisions.
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 across European Union member states. It tracks the prices of a representative basket of consumer goods and services to provide a comparable inflation rate for economic analysis and policymaking.
Methodology
The HICP data is collected through surveys of consumer purchases and compiled by Eurostat, the statistical office of the European Union.
Historical Context
Central banks and governments use the HICP to assess the effectiveness of monetary and fiscal policies aimed at maintaining price stability.
Key Facts
- The HICP is calculated monthly for the European Union as a whole.
- Stable inflation is a key objective of the European Central Bank's monetary policy.
- The HICP is used to index social benefits and wage contracts in many EU countries.
FAQs
Q: What does this economic trend measure?
A: The Harmonised Index of Consumer Prices (HICP) measures the changes in the prices of a basket of consumer goods and services in the European Union.
Q: Why is this trend relevant for users or analysts?
A: The HICP is a crucial economic indicator used to assess inflation and guide monetary and fiscal policy decisions in the European Union.
Q: How is this data collected or calculated?
A: The HICP data is collected through surveys of consumer purchases and compiled by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Central banks and governments use the HICP to evaluate the effectiveness of policies aimed at maintaining price stability in the European Union.
Q: Are there update delays or limitations?
A: The HICP is published monthly with a lag of around two weeks, providing timely information on inflation trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonised prices: All items: Total for the European Union (EU28CPHPTT01IXEBM), retrieved from FRED.