Consumer Price Index: Communication (COICOP 08): Total for Colombia
COLCP080000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.02
Year-over-Year Change
-149.79%
Date Range
1/1/2009 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Communication measures changes in the prices of communication-related goods and services in Colombia. This metric is a key indicator of inflation and consumer spending patterns in the telecommunications sector.
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 Communication in Colombia tracks the monthly changes in the cost of various communication-related items, including telephone and internet services, postal charges, and communication equipment. This index is used by policymakers and economists to gauge inflationary pressures and consumer behavior within the country's communications industry.
Methodology
The data is collected through surveys of prices paid by Colombian consumers for a representative basket of communication goods and services.
Historical Context
The CPI for Communication is an important economic indicator that informs monetary and fiscal policy decisions in Colombia.
Key Facts
- The CPI for Communication in Colombia has a base year of 2018.
- Communication accounts for around 3.5% of the total CPI basket in Colombia.
- Telephone and internet services make up the largest share of the Communication CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Communication measures changes in the prices of communication-related goods and services in Colombia, including telephone, internet, and postal services.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Communication is an important indicator of inflationary pressures and consumer spending patterns in Colombia's telecommunications sector, which is relevant for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of prices paid by Colombian consumers for a representative basket of communication goods and services.
Q: How is this trend used in economic policy?
A: The CPI for Communication informs monetary and fiscal policy decisions in Colombia, as it provides insights into inflationary dynamics and consumer behavior in the telecommunications industry.
Q: Are there update delays or limitations?
A: The CPI for Communication data is published monthly by the Colombian statistical agency, with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Colombia (COLCP080000GPM), retrieved from FRED.