Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Slovak Republic
SVKCP020000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
270.50
Year-over-Year Change
7.26%
Date Range
1/1/2002 - 11/1/2023
Summary
The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics in Slovakia measures the changes in retail prices for these goods and services. This key economic indicator is closely watched by policymakers and analysts to assess inflationary pressures and consumer spending.
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 Alcoholic Beverages, Tobacco and Narcotics tracks price changes for a basket of goods in this category, which is one component of the overall consumer price index. This trend provides insight into consumer behavior and inflation dynamics in the Slovak Republic.
Methodology
The data is collected through a nationwide survey of retail establishments and then aggregated to calculate the index value.
Historical Context
Central banks and fiscal authorities use this CPI component to inform monetary and fiscal policies aimed at managing inflation and supporting economic growth.
Key Facts
- The CPI for Alcoholic Beverages, Tobacco and Narcotics uses 2015 as the base year.
- This index is published monthly by the Slovak Statistical Office.
- Trends in this CPI component can indicate changes in consumer preferences and spending patterns.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics measures the changes in retail prices for these goods and services in Slovakia.
Q: Why is this trend relevant for users or analysts?
A: This CPI component provides valuable insights into inflationary pressures and consumer spending habits, which are crucial for economic policymaking and market analysis.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of retail establishments and then aggregated to calculate the index value.
Q: How is this trend used in economic policy?
A: Central banks and fiscal authorities use this CPI component to inform monetary and fiscal policies aimed at managing inflation and supporting economic growth.
Q: Are there update delays or limitations?
A: The CPI for Alcoholic Beverages, Tobacco and Narcotics is published monthly, with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Slovak Republic (SVKCP020000IXNBM), retrieved from FRED.