Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Austria
AUTCP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.12
Year-over-Year Change
8.80%
Date Range
1/1/1960 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Austria measures changes in the prices paid by consumers for a basket of food and beverage items. It is a key indicator of 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 for Food and Non-Alcoholic Beverages is a subcomponent of the broader Consumer Price Index, which tracks changes in the cost of living for Austrian households. This trend is used by economists and policymakers to monitor food price inflation and assess its impact on household budgets and the overall economy.
Methodology
The data is collected through surveys of retail prices across Austria.
Historical Context
The CPI for Food and Non-Alcoholic Beverages is closely watched by the Austrian Central Bank and other institutions for its implications on monetary and fiscal policy decisions.
Key Facts
- Austria's CPI for Food and Non-Alcoholic Beverages reached a record high in 2022.
- Food prices account for about 15% of the total Austrian CPI basket.
- The CPI for Food and Non-Alcoholic Beverages is a leading indicator of overall inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Austria measures changes in the retail prices paid by consumers for a basket of food and beverage items.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely watched by economists and policymakers as a key indicator of inflationary pressures and consumer purchasing power. It provides insights into the cost of living and can inform decisions on monetary and fiscal policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail prices across Austria.
Q: How is this trend used in economic policy?
A: The CPI for Food and Non-Alcoholic Beverages is closely monitored by the Austrian Central Bank and other institutions for its implications on monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with some potential for minor delays in data reporting.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Austria (AUTCP010000GPM), retrieved from FRED.