Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Colombia
COLCP050000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.27
Year-over-Year Change
9.85%
Date Range
12/1/2008 - 11/1/2023
Summary
The Consumer Price Index for Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05) in Colombia measures changes in the prices of products and services related to furnishing, equipping, and maintaining households.
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
This index is a key indicator of consumer inflation in Colombia, tracking price fluctuations for a basket of household goods and services. It is used by policymakers, economists, and analysts to monitor inflationary pressures and inform economic decision-making.
Methodology
The data is collected by Colombia's national statistics agency through surveys of retail establishments.
Historical Context
The COICOP 05 index is an important input for the Central Bank of Colombia's monetary policy decisions.
Key Facts
- The base year for the index is 2018.
- Colombia's COICOP 05 index rose by 2.4% in 2022.
- Furnishings and appliances make up the largest component of the index.
FAQs
Q: What does this economic trend measure?
A: The COICOP 05 index measures changes in the prices of household furnishings, equipment, and maintenance services in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of consumer inflation and household spending in Colombia, providing insights into inflationary pressures and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments by Colombia's national statistics agency.
Q: How is this trend used in economic policy?
A: The COICOP 05 index is an important input for the Central Bank of Colombia's monetary policy decisions, as it helps assess inflationary pressures and consumer demand.
Q: Are there update delays or limitations?
A: The index is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Colombia (COLCP050000IXNBM), retrieved from FRED.