Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Slovak Republic
SVKCPHP0300IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.92
Year-over-Year Change
5.16%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Harmonized Prices of Clothing and Footwear (COICOP 03) in the Slovak Republic measures changes in the prices paid by consumers for these goods over time. This index is a key indicator of consumer inflation and purchasing power.
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 Prices CPI for Clothing and Footwear in Slovakia is part of the broader CPI, which tracks the average change in prices paid by consumers across a basket of common goods and services. This specific index focuses on the clothing and footwear category, providing insights into inflationary trends within this important consumer expenditure area.
Methodology
The data is collected through a nationwide survey of retail prices and then aggregated to calculate the index.
Historical Context
Policymakers and analysts monitor this CPI index to assess domestic price pressures and consumer demand.
Key Facts
- The base year for this index is 2015 = 100.
- Clothing and footwear account for approximately 4% of the Slovak consumer price basket.
- The index is published monthly by the Statistical Office of the Slovak Republic.
FAQs
Q: What does this economic trend measure?
A: This economic indicator measures changes in the prices paid by consumers in Slovakia for clothing and footwear over time, as part of the broader Consumer Price Index (CPI).
Q: Why is this trend relevant for users or analysts?
A: The Clothing and Footwear CPI is an important metric for understanding domestic inflationary pressures and consumer purchasing power in Slovakia. It provides insights into a key component of household spending.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of retail prices and then aggregated to calculate the index.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this CPI index to assess domestic price pressures and consumer demand, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The index is published monthly by the Statistical Office of the Slovak Republic with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Clothing and Footwear (COICOP 03): Total for Slovak Republic (SVKCPHP0300IXEBM), retrieved from FRED.