Consumer Price Index: Transport (COICOP 07): Total for Finland
FINCP070000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.15
Year-over-Year Change
-2.00%
Date Range
1/1/2010 - 11/1/2023
Summary
The Consumer Price Index: Transport (COICOP 07): Total for Finland measures changes in the prices of transportation goods and services in Finland. This metric is a key indicator of consumer inflation and economic conditions.
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 Consumer Price Index: Transport (COICOP 07): Total for Finland is a subcomponent of the overall consumer price index, tracking price changes in areas like vehicle purchases, fuel, public transportation, and other transportation-related expenditures. This data helps economists and policymakers assess inflationary pressures and consumer purchasing power.
Methodology
The index is calculated by Finland's national statistical agency based on a representative basket of transportation goods and services.
Historical Context
Trends in the transportation CPI are closely monitored by the Central Bank of Finland and other economic institutions to inform monetary and fiscal policy decisions.
Key Facts
- The transportation CPI is a major component of the overall consumer price index in Finland.
- Transportation costs account for approximately 15% of the average Finnish household's monthly expenditures.
- Finland's transportation CPI reached an all-time high in 2022 due to rising fuel and vehicle prices.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Transport (COICOP 07): Total for Finland measures changes in the prices of transportation goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: Trends in the transportation CPI are important indicators of consumer inflation and economic conditions that inform policy decisions by Finland's central bank and government.
Q: How is this data collected or calculated?
A: The index is calculated by Finland's national statistical agency based on a representative basket of transportation goods and services.
Q: How is this trend used in economic policy?
A: The transportation CPI is closely monitored by the Central Bank of Finland and other economic institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The transportation CPI data is published monthly with a short lag, providing timely information on inflationary pressures.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Finland (FINCP070000IXNBM), retrieved from FRED.