Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Luxembourg
LUXCPHP0300GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.60
Year-over-Year Change
-82.35%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Luxembourg measures the change in prices of clothing and footwear for consumers in Luxembourg. This key indicator helps economists and policymakers track 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
This economic trend represents the total price index for clothing and footwear purchases by consumers in Luxembourg. It is a component of the broader Consumer Price Index, a widely used measure of inflation that informs monetary policy and consumer spending analysis.
Methodology
The data is collected through a survey of consumer purchases and calculated using a weighted basket of goods.
Historical Context
Trends in clothing and footwear prices are closely monitored by the European Central Bank and Luxembourg's government to assess the state of the consumer economy.
Key Facts
- Luxembourg's clothing and footwear prices make up about 5% of the total CPI basket.
- Prices in this category have increased by an average of 2.3% annually over the past decade.
- Seasonal fluctuations are common, with prices typically peaking in the summer.
FAQs
Q: What does this economic trend measure?
A: This trend measures the change in prices for clothing and footwear purchased by consumers in Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: Clothing and footwear prices are an important component of overall consumer inflation, providing insight into spending patterns and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through a survey of consumer purchases and calculated using a weighted basket of goods.
Q: How is this trend used in economic policy?
A: Trends in clothing and footwear prices are closely monitored by the European Central Bank and Luxembourg's government to assess the state of the consumer economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Luxembourg (LUXCPHP0300GPM), retrieved from FRED.