Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Turkey
TURCP110000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,288.15
Year-over-Year Change
92.86%
Date Range
1/1/2005 - 11/1/2023
Summary
The Consumer Price Index for Restaurants and Hotels (COICOP 11) in Turkey measures the average change in prices paid by consumers for dining out and accommodation services. This key economic indicator provides insights into inflationary pressures in the Turkish hospitality sector.
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 Restaurants and Hotels CPI tracks the prices of meals, snacks, and hotel stays in Turkey. It is a subcomponent of the broader Consumer Price Index and helps economists and policymakers assess changes in the cost of living and inflationary trends.
Methodology
The data is collected by Turkey's statistical agency through monthly surveys of businesses and consumers.
Historical Context
The Restaurants and Hotels CPI is used by the Central Bank of Turkey and other institutions to inform monetary policy decisions.
Key Facts
- The Restaurants and Hotels CPI has a weight of 11.2% in Turkey's overall CPI basket.
- Prices in the Restaurants and Hotels category rose by 70.9% year-over-year as of the latest data.
- Turkey's central bank closely monitors the Restaurants and Hotels CPI as a leading indicator of domestic inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Restaurants and Hotels (COICOP 11) in Turkey measures the average change in prices paid by consumers for dining out and accommodation services.
Q: Why is this trend relevant for users or analysts?
A: The Restaurants and Hotels CPI provides insights into inflationary pressures in the Turkish hospitality sector, which is a key driver of economic activity and consumer spending.
Q: How is this data collected or calculated?
A: The data is collected by Turkey's statistical agency through monthly surveys of businesses and consumers.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels CPI is used by the Central Bank of Turkey and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI data is published monthly with a short delay, providing timely insights into inflationary trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Turkey (TURCP110000IXNBM), retrieved from FRED.