Price Level of Household Consumption for Finland
PLCCPPFIA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.04
Year-over-Year Change
-6.69%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Finland measures the relative price level of household consumption expenditures in Finland compared to the Eurozone average. This provides valuable insights into the cost of living and purchasing power within the Finnish economy.
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 index tracks the price level of a comprehensive basket of consumer goods and services purchased by Finnish households. It is used to compare the affordability of household consumption in Finland relative to the Eurozone, which is crucial for economic analysis and policy decisions.
Methodology
The data is collected and calculated by Eurostat based on a survey of consumer prices across Finland.
Historical Context
This metric is closely monitored by policymakers, businesses, and consumers to understand Finland's economic competitiveness and cost-of-living trends.
Key Facts
- Finland's household consumption price level was 121.1% of the Eurozone average in 2021.
- The price level has remained relatively stable, fluctuating between 118-122% of the Eurozone since 2010.
- Finland's high prices are largely driven by taxes, rents, and the cost of consumer durables.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Finland tracks the relative cost of a basket of consumer goods and services purchased by Finnish households compared to the Eurozone average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into Finland's cost of living and economic competitiveness within the Eurozone, informing policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat based on a comprehensive survey of consumer prices across Finland.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and consumers closely monitor this metric to understand Finland's economic position and the affordability of household consumption relative to the Eurozone.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, and may not capture all regional price variations within Finland.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Finland (PLCCPPFIA670NRUG), retrieved from FRED.