Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Australia
AUSCP030000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.10
Year-over-Year Change
23.56%
Date Range
7/1/2011 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Clothing and Footwear in Australia measures changes in the prices of apparel, shoes, and related items purchased by consumers. This metric is a key indicator of inflationary pressures and consumer spending patterns.
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 Clothing and Footwear CPI is a subindex of the broader Australian CPI, which tracks the weighted average change in prices for a basket of consumer goods and services. This data is used by policymakers, economists, and businesses to analyze cost-of-living trends and inform economic decision-making.
Methodology
The Australian Bureau of Statistics collects price data from a sample of retail outlets to calculate the Clothing and Footwear CPI.
Historical Context
Trends in the Clothing and Footwear CPI provide insight into consumer behavior and the state of the Australian retail sector.
Key Facts
- The Clothing and Footwear CPI accounts for around 4% of the total Australian CPI basket.
- Clothing and footwear prices tend to be more volatile than the overall CPI.
- Australia's Clothing and Footwear CPI reached an all-time high in 2022.
FAQs
Q: What does this economic trend measure?
A: The Clothing and Footwear CPI measures changes in the prices of apparel, shoes, and related items purchased by Australian consumers.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into inflationary pressures, consumer spending patterns, and the state of the Australian retail sector.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data from a sample of retail outlets to calculate the Clothing and Footwear CPI.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use the Clothing and Footwear CPI to analyze cost-of-living trends and inform economic decision-making.
Q: Are there update delays or limitations?
A: The Clothing and Footwear CPI is published monthly by the Australian Bureau of Statistics, with a short lag period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Australia (AUSCP030000IXNBQ), retrieved from FRED.