Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Luxembourg
LUXCP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.96
Year-over-Year Change
6.69%
Date Range
1/1/1995 - 12/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11) measures changes in the prices paid by consumers for dining out and hotel accommodations in Luxembourg. This metric is a key indicator of inflation and consumer spending trends in the hospitality 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 Consumer Price Index (CPI) tracks the change in prices for a basket of consumer goods and services over time. The Restaurants and Hotels (COICOP 11) component specifically monitors inflation in the hospitality industry, providing insights into consumer behavior and the broader state of the Luxembourgish economy.
Methodology
The Luxembourg statistical agency collects price data from a sample of restaurants, cafes, and hotels to calculate this index.
Historical Context
Policymakers and economists closely follow CPI trends to assess the overall rate of inflation and inform monetary policy decisions.
Key Facts
- The base year for this index is 2015 = 100.
- Restaurants and hotels account for approximately 11% of the total CPI basket in Luxembourg.
- The index reached a record high of 109.91 in August 2022.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Restaurants and Hotels (COICOP 11) measures changes in the prices paid by consumers for dining out and hotel accommodations in Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into inflation and consumer spending patterns in the hospitality sector, which is an important part of the Luxembourgish economy.
Q: How is this data collected or calculated?
A: The Luxembourg statistical agency collects price data from a sample of restaurants, cafes, and hotels to calculate this index.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely follow CPI trends, including the Restaurants and Hotels component, to assess the overall rate of inflation and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly with a typical one-month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Luxembourg (LUXCP110000IXNBM), retrieved from FRED.