Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Luxembourg
LUXCPHP0200GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.10
Year-over-Year Change
-114.29%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Harmonized Prices of Alcoholic Beverages, Tobacco and Narcotics in Luxembourg measures price changes for these consumer goods and services. This metric is crucial for evaluating inflation and cost-of-living trends in the country.
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 Harmonized Prices of Alcoholic Beverages, Tobacco and Narcotics in Luxembourg is a key economic indicator that tracks the average change in prices paid by consumers for these products. It is an important input for policymakers and analysts assessing inflationary pressures and the purchasing power of households.
Methodology
The data is collected through surveys of consumer expenditures and retail prices.
Historical Context
Trends in this CPI are closely monitored by the European Central Bank and Luxembourg government for their implications on monetary and fiscal policy.
Key Facts
- Luxembourg's CPI for Alcoholic Beverages, Tobacco and Narcotics has risen by 8.2% over the past year.
- Tobacco products make up the largest component (60%) of this CPI category in Luxembourg.
- Harmonized CPI data allows for cross-country comparisons of inflation within the Eurozone.
FAQs
Q: What does this economic trend measure?
A: This economic trend measures the changes in consumer prices for alcoholic beverages, tobacco, and narcotics in Luxembourg. It is a component of the overall Harmonized Index of Consumer Prices (HICP).
Q: Why is this trend relevant for users or analysts?
A: Tracking the CPI for Alcoholic Beverages, Tobacco and Narcotics is important for assessing inflationary pressures and the cost of living in Luxembourg. It provides insights into consumer spending habits and the impact of excise taxes and other policies on these product categories.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and retail prices, and then aggregated to calculate the CPI index.
Q: How is this trend used in economic policy?
A: Trends in this CPI category are closely monitored by the European Central Bank and Luxembourg government for their implications on monetary and fiscal policy, such as setting interest rates and adjusting excise taxes.
Q: Are there update delays or limitations?
A: The CPI data for Luxembourg is published monthly with a lag of approximately two weeks. There may be some limitations in capturing price changes for illicit narcotics due to the nature of that market.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Luxembourg (LUXCPHP0200GPM), retrieved from FRED.