Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Colombia
COLCP010000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
175.17
Year-over-Year Change
8.25%
Date Range
1/1/1995 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Colombia measures changes in the prices paid by consumers for this category of goods and services. It is a key indicator of inflation 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 subindex of the overall CPI, providing more granular insight into price trends for this important consumption category. Economists and policymakers use this data to assess cost-of-living changes and inform monetary and fiscal policies.
Methodology
This index is calculated by Colombia's National Administrative Department of Statistics (DANE) based on a nationwide survey of consumer prices.
Historical Context
The CPI for Food and Non-Alcoholic Beverages is closely monitored by the Central Bank of Colombia in setting interest rates and managing inflation targets.
Key Facts
- Colombia's CPI for Food and Non-Alcoholic Beverages has a base year of 2018.
- This index accounts for over 25% of the total Colombian CPI basket.
- Food prices are a major driver of overall inflation in Colombia.
FAQs
Q: What does this economic trend measure?
A: The CPI for Food and Non-Alcoholic Beverages in Colombia measures changes in the prices paid by consumers for food, non-alcoholic beverages, and related items.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into inflationary pressures and the cost of living in Colombia, helping to inform economic policymaking and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected by Colombia's national statistics agency, DANE, through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The Central Bank of Colombia closely monitors this CPI subindex when setting monetary policy and inflation targets to maintain price stability.
Q: Are there update delays or limitations?
A: The CPI for Food and Non-Alcoholic Beverages in Colombia is published monthly with a typical 2-week lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Colombia (COLCP010000IXNBM), retrieved from FRED.