Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Slovak Republic
SVKCPHP0700IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.17
Year-over-Year Change
-0.22%
Date Range
1/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Slovak Republic measures changes in the cost of transportation-related goods and services for consumers in Slovakia.
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
This economic indicator tracks the inflation rate for a basket of transportation items including vehicle purchases, fuel, public transport, and other travel-related expenses. It is a key metric used by policymakers and analysts to assess the overall cost of living and inflationary pressures in the Slovak economy.
Methodology
The data is collected through a nationwide survey of consumer prices and calculated as an index relative to a base period.
Historical Context
The Consumer Price Index is closely monitored by the European Central Bank and Slovak government for informing monetary and fiscal policy decisions.
Key Facts
- The base year for this index is 2015 = 100.
- Transportation accounts for around 15% of the total consumer basket in Slovakia.
- Fuel prices are a major driver of changes in this index.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks changes in the prices of transportation-related goods and services purchased by consumers in Slovakia.
Q: Why is this trend relevant for users or analysts?
A: The Consumer Price Index for transportation is a key metric used to assess inflationary pressures and the overall cost of living in the Slovak economy.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices and calculated as an index relative to a base period.
Q: How is this trend used in economic policy?
A: The Consumer Price Index is closely monitored by the European Central Bank and Slovak government for informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, usually 1-2 months after the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Transport (COICOP 07): Total for Slovak Republic (SVKCPHP0700IXEBM), retrieved from FRED.