Consumer Price Index: Harmonized Prices: Food and Non-Alcoholic Beverages (COICOP 01): Total for Sweden
SWECPHP0100GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-83.33%
Date Range
2/1/1996 - 11/1/2023
Summary
The Consumer Price Index: Harmonized Prices: Food and Non-Alcoholic Beverages (COICOP 01): Total for Sweden measures the inflation rate for food and non-alcoholic beverages in Sweden. This is a key economic indicator for policymakers and consumers.
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 trend represents the Harmonized Index of Consumer Prices (HICP) for food and non-alcoholic beverages in Sweden. The HICP is a standardized measure of inflation used across the European Union to assess price stability and guide monetary policy.
Methodology
The data is collected through consumer surveys and retailer reporting.
Historical Context
This index is closely watched by the Swedish central bank and international institutions for its implications on the cost of living and consumer spending.
Key Facts
- Sweden's food and non-alcoholic beverage prices make up around 15% of the HICP basket.
- Prices in this index have risen by an average of 2.5% per year over the past decade.
- The Swedish central bank targets 2% annual inflation, using the HICP as a key metric.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Harmonized Index of Consumer Prices (HICP) for food and non-alcoholic beverages in Sweden. It tracks the inflation rate for these household purchases.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of living costs and consumer purchasing power in Sweden. It helps policymakers and economists assess inflationary pressures and the health of the Swedish economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and reporting from retailers on prices of food and non-alcoholic beverage items.
Q: How is this trend used in economic policy?
A: The Swedish central bank closely monitors this HICP index as a key metric for assessing price stability and guiding monetary policy decisions.
Q: Are there update delays or limitations?
A: The HICP data is typically published with a 1-month lag, in line with other European HICP statistics. There are no known major limitations to the coverage or reliability of this index.
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Citation
U.S. Federal Reserve, Consumer Price Index: Harmonized Prices: Food and Non-Alcoholic Beverages (COICOP 01): Total for Sweden (SWECPHP0100GPM), retrieved from FRED.