Consumer Price Index: Communication (COICOP 08): Total for Australia
AUSCP080000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.08
Year-over-Year Change
-368.40%
Date Range
10/1/1972 - 7/1/2023
Summary
The Consumer Price Index (CPI): Communication (COICOP 08) measures changes in the prices of communication goods and services in Australia. This trend is a key indicator of inflation and consumer spending in the telecommunications 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 CPI: Communication (COICOP 08) tracks the prices of items like mobile phone plans, internet services, postal fees, and other communication-related expenses. It is an important input for policymakers assessing the overall cost of living and inflationary pressures.
Methodology
The Australian Bureau of Statistics collects price data through surveys of businesses and households to calculate this monthly index.
Historical Context
Monitoring the CPI: Communication helps central banks and economists understand consumer behavior and set appropriate monetary and fiscal policies.
Key Facts
- Australia's CPI: Communication has risen by 3.2% over the past year.
- Communication costs make up about 3.3% of the total Australian CPI basket.
- The CPI: Communication reached an all-time high in December 2022.
FAQs
Q: What does this economic trend measure?
A: The CPI: Communication (COICOP 08) measures changes in the prices of communication goods and services in Australia, including mobile phones, internet, and postal fees.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of inflation and consumer spending in the telecommunications sector, which helps policymakers and economists assess the overall cost of living.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data through surveys of businesses and households to calculate this monthly index.
Q: How is this trend used in economic policy?
A: Monitoring the CPI: Communication helps central banks and economists understand consumer behavior and set appropriate monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The CPI: Communication data is published monthly by the Australian Bureau of Statistics with minimal delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Australia (AUSCP080000GPQ), retrieved from FRED.