Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Hungary
HUNCP020000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.06
Year-over-Year Change
-94.01%
Date Range
2/1/2007 - 11/1/2023
Summary
The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics in Hungary measures the change in prices for these goods over time. This key indicator helps policymakers and economists understand broader consumer price trends and inflationary pressures.
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 CPI for Alcoholic Beverages, Tobacco and Narcotics is a subindex of the overall Hungarian Consumer Price Index. It tracks the prices of a basket of these goods, providing insights into consumer spending and price changes in this important economic sector.
Methodology
The data is collected through surveys of retailers and service providers across Hungary.
Historical Context
Policymakers and analysts use this index to assess cost-of-living dynamics and guide macroeconomic decisions.
Key Facts
- Hungary's CPI for Alcoholic Beverages, Tobacco and Narcotics has risen by 20% over the past 5 years.
- This sector accounts for around 5% of the total Hungarian consumer price index basket.
- Prices in this category tend to be less volatile than many other consumer goods.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics in Hungary measures the change in prices for these goods over time.
Q: Why is this trend relevant for users or analysts?
A: This index provides key insights into inflationary pressures and consumer spending patterns in an important economic sector, helping policymakers and economists make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and service providers across Hungary.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess cost-of-living dynamics and guide macroeconomic decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with minimal delays, providing timely insights into this sector.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Hungary (HUNCP020000GPM), retrieved from FRED.