Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Finland
FINCPHP0200GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-50.00%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Finland tracks changes in the prices of these consumer goods in Finland. It is a key economic indicator used to monitor inflation and assess the cost of living.
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 index is part of the Harmonized Index of Consumer Prices (HICP), a standardized measure of inflation across European Union countries. It provides insights into trends in the prices of alcohol, tobacco, and narcotic products, which are important components of consumer spending and household budgets.
Methodology
The data is collected through surveys of retailers and service providers across Finland.
Historical Context
Policymakers and analysts utilize this index to inform decisions around monetary and fiscal policies.
Key Facts
- The index has a base year of 2015.
- Finland's alcohol and tobacco prices account for approximately 4% of the total consumer price index.
- The index is published monthly by Eurostat, the statistical office of the European Union.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the prices of alcoholic beverages, tobacco, and narcotics in Finland, as part of the Harmonized Index of Consumer Prices (HICP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into inflationary pressures and the cost of living in Finland, as alcohol, tobacco, and narcotics are important components of consumer spending.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and service providers across Finland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this index to inform decisions around monetary and fiscal policies, as it is a key indicator of inflation and consumer spending.
Q: Are there update delays or limitations?
A: The index is published monthly by Eurostat, with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Finland (FINCPHP0200GPM), retrieved from FRED.