Consumer Price Index: Harmonized Prices: Food and Non-Alcoholic Beverages (COICOP 01): Total for Sweden
Index Eurostat base
SWECPHP0100IXEBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141.53
Year-over-Year Change
6.57%
Date Range
1/1/1996 - 11/1/2023
Summary
The Index Eurostat base measures the price level of consumer goods and services in Sweden based on the Eurostat consumer price index. This key economic indicator tracks inflation and the purchasing power of the Swedish krona.
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 Index Eurostat base is a harmonized index of consumer prices (HICP) that compares the average change in prices for a basket of consumer goods and services in Sweden to a base year established by Eurostat, the statistical office of the European Union. It serves as an important benchmark for monetary policy and economic analysis.
Methodology
The Swedish Consumer Price Index (CPI) data is collected monthly by Statistics Sweden and adjusted to the Eurostat base.
Historical Context
Policymakers, economists, and investors closely monitor the Index Eurostat base to assess the Swedish economy's inflationary pressures and the effectiveness of the Riksbank's monetary policy.
Key Facts
- The base year for the Index Eurostat base is 2015 = 100.
- Sweden is a member of the European Union and uses the HICP methodology.
- The Riksbank, Sweden's central bank, targets 2% inflation as measured by the HICP.
FAQs
Q: What does this economic trend measure?
A: The Index Eurostat base measures the price level of consumer goods and services in Sweden compared to a base year, providing a harmonized index of consumer prices (HICP).
Q: Why is this trend relevant for users or analysts?
A: The Index Eurostat base is a key indicator of inflation and purchasing power in Sweden, which is crucial for monetary policy, economic analysis, and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected monthly by Statistics Sweden and adjusted to the Eurostat base year methodology.
Q: How is this trend used in economic policy?
A: Policymakers, such as the Riksbank, use the Index Eurostat base to assess inflationary pressures and guide monetary policy decisions to maintain the 2% inflation target.
Q: Are there update delays or limitations?
A: The Index Eurostat base is updated monthly with minimal delay, providing timely information on consumer price trends in Sweden.
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Citation
U.S. Federal Reserve, Index Eurostat base (SWECPHP0100IXEBM), retrieved from FRED.