Consumer Price Index: Harmonized Prices: Services: Total for Portugal
PRTCPHPSE01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.20
Year-over-Year Change
83.33%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Services: Total for Portugal measures the changes in prices for a basket of consumer services in Portugal. This key economic indicator provides insights into inflationary pressures and the overall cost of living.
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 Harmonized Index of Consumer Prices (HICP) is a standardized measure of consumer prices used across the European Union. The Services: Total category covers a wide range of consumer services, including transportation, housing, healthcare, and recreation.
Methodology
The data is collected through surveys of consumer purchases and calculated using a fixed-weight formula.
Historical Context
This index is closely watched by the European Central Bank and Portuguese policymakers to inform monetary and fiscal policies.
Key Facts
- Portugal's services CPI has risen by 5.2% over the past year.
- Housing, transportation, and recreation services account for over 60% of the index.
- The harmonized index allows for cross-country comparisons of price trends in the EU.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Harmonized Prices: Services: Total for Portugal measures the changes in consumer prices for a basket of services in Portugal.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures and the overall cost of living in Portugal, which is closely watched by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer purchases and calculated using a fixed-weight formula.
Q: How is this trend used in economic policy?
A: The Harmonized Index of Consumer Prices, including the Services: Total category, is a key input for the European Central Bank and Portuguese policymakers in setting monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Services: Total for Portugal (PRTCPHPSE01GPM), retrieved from FRED.