Consumer Price Index: Communication (COICOP 08): Total for Colombia
COLCP080000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.07
Year-over-Year Change
-96.71%
Date Range
4/1/2009 - 7/1/2023
Summary
The Consumer Price Index for Communication (COICOP 08) in Colombia measures changes in the prices of telecommunication and information technology services, including phone, internet, and media access. This key economic indicator helps analysts and policymakers understand inflation trends and consumer spending patterns in the communication 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 Colombian Communication CPI tracks the prices paid by consumers for a representative basket of communication-related goods and services, including landline and mobile phone charges, internet access fees, and subscriptions to television, radio, and streaming media. This index is an important tool for assessing the cost of living and overall price stability in the country.
Methodology
The data is collected through a nationwide survey of Colombian households and businesses.
Historical Context
The Communication CPI is used by the Central Bank of Colombia and other economic institutions to inform monetary policy and assess the state of the Colombian economy.
Key Facts
- The Communication CPI has a base year of 2018.
- In 2022, communication costs accounted for around 3.4% of the total Colombian CPI basket.
- The Communication CPI has shown moderate annual inflation of 3-5% in recent years.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI measures changes in the prices of telecommunication and information technology services in Colombia, including phone, internet, and media access.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of inflation and consumer spending patterns in the communication sector, which is crucial for assessing the overall cost of living and economic conditions in Colombia.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of Colombian households and businesses.
Q: How is this trend used in economic policy?
A: The Communication CPI is used by the Central Bank of Colombia and other economic institutions to inform monetary policy and assess the state of the Colombian economy.
Q: Are there update delays or limitations?
A: The Communication CPI is published monthly with a typical 1-2 month delay, and may be subject to revisions based on updated survey data.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Colombia (COLCP080000GPQ), retrieved from FRED.