Consumer Price Index: OECD Groups: Services: Total for Slovak Republic
SVKCPGRSE01GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.01
Year-over-Year Change
-98.86%
Date Range
4/1/1991 - 7/1/2023
Summary
The Consumer Price Index: OECD Groups: Services: Total for Slovak Republic measures the change in prices for a basket of consumer services in Slovakia. This key indicator provides insights into the country's overall inflation and consumer spending patterns.
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 Consumer Price Index (CPI) is a widely used economic indicator that tracks the changes in the prices of a representative basket of consumer goods and services. The Services CPI specifically measures the price changes for a range of service-oriented items, offering important insights into the service sector's contribution to overall inflation in Slovakia.
Methodology
The data is collected through regular surveys of retailers and service providers across Slovakia.
Historical Context
This CPI trend is closely monitored by policymakers, economists, and market analysts to assess the health of the Slovak economy and guide monetary and fiscal policy decisions.
Key Facts
- The base year for the Slovak Republic Services CPI is 2015.
- Services account for over 50% of Slovakia's GDP.
- The CPI tracks price changes for over 500 service categories.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: OECD Groups: Services: Total for Slovak Republic measures the change in prices for a basket of consumer services in Slovakia, providing insights into the country's overall inflation and consumer spending patterns.
Q: Why is this trend relevant for users or analysts?
A: This CPI trend is a key indicator of the health of the Slovak economy, and it is closely monitored by policymakers, economists, and market analysts to guide monetary and fiscal policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of retailers and service providers across Slovakia.
Q: How is this trend used in economic policy?
A: The Services CPI is used by policymakers, central banks, and economists to assess inflationary pressures and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical delay of several weeks between the reference period and the release of the index.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Services: Total for Slovak Republic (SVKCPGRSE01GPQ), retrieved from FRED.