Consumer Price Index: Health (COICOP 06): Total for Slovak Republic
SVKCP060000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.36
Year-over-Year Change
-30.52%
Date Range
2/1/2002 - 11/1/2023
Summary
The Consumer Price Index: Health (COICOP 06): Total for Slovak Republic measures changes in the cost of healthcare goods and services in Slovakia. This key economic indicator helps policymakers and analysts monitor inflation 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: Health (COICOP 06) tracks the prices paid by Slovak consumers for a basket of healthcare-related products and services, including medical treatments, medicines, and health insurance. It is a valuable tool for assessing the overall cost of living and the state of the Slovak economy.
Methodology
The data is collected by the Statistical Office of the Slovak Republic through surveys of consumer expenditures.
Historical Context
This index is closely watched by the National Bank of Slovakia and other policymakers to inform monetary and fiscal policies.
Key Facts
- The base year for the index is 2015 = 100.
- Healthcare costs account for around 4% of the Slovak consumer price basket.
- The index has risen by an average of 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The CPI: Health (COICOP 06): Total for Slovak Republic measures changes in the prices of healthcare goods and services purchased by Slovak consumers.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and consumer spending in the healthcare sector, which is crucial for policymakers and economists monitoring the Slovak economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer expenditure surveys conducted by the Statistical Office of the Slovak Republic.
Q: How is this trend used in economic policy?
A: The CPI: Health is closely watched by the National Bank of Slovakia and other policymakers to help inform monetary and fiscal policies aimed at managing inflation and supporting economic growth.
Q: Are there update delays or limitations?
A: The index is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Slovak Republic (SVKCP060000GPM), retrieved from FRED.