Consumer Price Index: Health (COICOP 06): Total for Australia
AUSCP060000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.76
Year-over-Year Change
-633.33%
Date Range
10/1/1989 - 7/1/2023
Summary
The Consumer Price Index: Health (COICOP 06): Total for Australia measures changes in the prices of healthcare goods and services purchased by Australian consumers. This key economic indicator provides insight into inflationary pressures and consumer purchasing power.
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 CPI Health index tracks the costs of a basket of healthcare-related items, including medical services, pharmaceuticals, and medical equipment. It is a widely used metric for monitoring the affordability of healthcare and assessing the impact of policy changes on consumer prices.
Methodology
The data is collected through surveys of Australian households and businesses.
Historical Context
Policymakers and analysts use the CPI Health index to inform decisions on healthcare policy, cost-of-living adjustments, and monetary policy.
Key Facts
- The CPI Health index has a base year of 2011-12.
- Healthcare costs account for approximately 6% of the total CPI basket in Australia.
- The CPI Health index has risen by an average of 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The CPI Health index measures changes in the prices of healthcare goods and services purchased by Australian consumers.
Q: Why is this trend relevant for users or analysts?
A: The CPI Health index provides insight into inflationary pressures and the affordability of healthcare, making it a key metric for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Australian households and businesses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the CPI Health index to inform decisions on healthcare policy, cost-of-living adjustments, and monetary policy.
Q: Are there update delays or limitations?
A: The CPI Health index is published on a quarterly basis, with a short delay for data collection and processing.
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Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Australia (AUSCP060000GPQ), retrieved from FRED.