Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Colombia
COLCP020000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.43
Year-over-Year Change
12.79%
Date Range
12/1/2008 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Colombia tracks changes in the retail prices of these goods. It is a key indicator for monitoring inflation and cost-of-living trends in the country.
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 Alcoholic Beverages, Tobacco and Narcotics is a subindex of the overall Colombian CPI, which measures changes in the prices paid by consumers for a representative basket of goods and services. This specific index provides insight into price movements in one of the major expenditure categories for Colombian households.
Methodology
The data is collected through regular price surveys of a sample of retail outlets in Colombia.
Historical Context
Policymakers and analysts use this CPI subindex to assess inflationary pressures and inform economic and fiscal policies.
Key Facts
- The index base year is 2018.
- Alcoholic beverages, tobacco and narcotics account for over 2% of the Colombian consumer expenditure basket.
- The index has risen by 12.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics in Colombia tracks changes in the retail prices of these goods and services.
Q: Why is this trend relevant for users or analysts?
A: This CPI subindex provides important insights into inflationary pressures and changes in the cost of living for Colombian consumers in this expenditure category.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a sample of retail outlets in Colombia.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this CPI subindex to assess inflationary pressures and inform economic and fiscal policies in Colombia.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Colombia (COLCP020000IXNBM), retrieved from FRED.