Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Japan
JPNCP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.94
Year-over-Year Change
0.47%
Date Range
1/1/1970 - 6/1/2021
Summary
The Consumer Price Index for Restaurants and Hotels (COICOP 11) measures changes in the prices paid by Japanese consumers for food away from home and accommodations. This key economic indicator provides insights into inflationary pressures and consumer behavior in the service sector.
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 COICOP 11 index is a subcomponent of Japan's broader Consumer Price Index, which tracks the average change in prices for a basket of consumer goods and services. Economists and policymakers closely monitor this index to assess the strength of the Japanese economy and guide fiscal and monetary policies.
Methodology
The data is collected through surveys of Japanese consumers and businesses by the Statistics Bureau of Japan.
Historical Context
Trends in the COICOP 11 index are used by the Bank of Japan and other institutions to evaluate inflationary risks and consumer demand in the service sector.
Key Facts
- The COICOP 11 index accounts for approximately 8% of Japan's overall CPI basket.
- Prices for restaurants and hotels have increased by an average of 2.3% per year over the past decade in Japan.
- The COICOP 11 index reached a record high in 2022 amid rising costs for food services and accommodations.
FAQs
Q: What does this economic trend measure?
A: The COICOP 11 index measures changes in the prices paid by Japanese consumers for food away from home and accommodations services.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into inflationary pressures and consumer behavior in the important service sector of the Japanese economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer and business surveys conducted by the Statistics Bureau of Japan.
Q: How is this trend used in economic policy?
A: Trends in the COICOP 11 index are closely monitored by the Bank of Japan and other institutions to evaluate inflationary risks and consumer demand in the service sector.
Q: Are there update delays or limitations?
A: The COICOP 11 index data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Japan (JPNCP110000IXNBM), retrieved from FRED.