Consumer Price Index: Transport (COICOP 07): Total for Colombia
COLCP070000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.73
Year-over-Year Change
-46.11%
Date Range
1/1/2009 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Transport in Colombia measures changes in the prices of goods and services related to transportation, including public and private transportation. This metric is a key indicator of inflation and consumer spending patterns in the Colombian economy.
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 Transport in Colombia is a subcomponent of the overall Consumer Price Index, which tracks changes in the prices paid by consumers for a basket of goods and services. The Transport CPI is used by policymakers, economists, and analysts to assess cost-of-living changes and inflationary pressures in the transportation sector.
Methodology
The data is collected through surveys of consumers and businesses by the National Administrative Department of Statistics (DANE).
Historical Context
The Transport CPI is an important input for monetary policy decisions by the Central Bank of Colombia.
Key Facts
- The base year for the Colombian CPI is 2018.
- Transport accounts for around 15% of the overall CPI basket in Colombia.
- Gasoline and other vehicle fuels are the largest components of the Transport CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Transport in Colombia measures changes in the prices of goods and services related to transportation, including public and private transportation.
Q: Why is this trend relevant for users or analysts?
A: The Transport CPI is a key indicator of inflation and consumer spending patterns in the Colombian economy, and is used by policymakers, economists, and analysts to assess cost-of-living changes and inflationary pressures in the transportation sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumers and businesses by the National Administrative Department of Statistics (DANE).
Q: How is this trend used in economic policy?
A: The Transport CPI is an important input for monetary policy decisions by the Central Bank of Colombia.
Q: Are there update delays or limitations?
A: The Transport CPI data is published monthly by DANE, with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Colombia (COLCP070000GPM), retrieved from FRED.