Consumer Price Index: Recreation and Culture (COICOP 09): Total for Colombia
COLCP090000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.54
Year-over-Year Change
7.41%
Date Range
12/1/2008 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Recreation and Culture in Colombia measures changes in the prices of goods and services related to leisure activities, entertainment, and cultural participation. This indicator is closely watched by economists and policymakers to assess inflationary pressures and consumer spending patterns.
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 Recreation and Culture CPI is a subcomponent of the overall Consumer Price Index for Colombia. It tracks the price movements of a basket of goods and services that consumers use for recreation, hobbies, cultural events, and other leisure activities. This data provides insight into Colombians' discretionary spending habits and can inform economic policy decisions.
Methodology
The CPI data is collected by Colombia's national statistics agency through surveys of consumer prices across the country.
Historical Context
The Recreation and Culture CPI is a key input for analyzing domestic consumption trends and making macroeconomic assessments.
Key Facts
- The base year for the Recreation and Culture CPI in Colombia is 2018.
- This index accounts for approximately 6.3% of the overall Colombian CPI basket.
- Prices for recreation and cultural activities in Colombia have risen by 25% since 2015.
FAQs
Q: What does this economic trend measure?
A: The Recreation and Culture CPI measures changes in the prices of goods and services related to leisure activities, entertainment, and cultural participation in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into Colombians' discretionary spending habits and can inform economic policy decisions around consumption, inflation, and standards of living.
Q: How is this data collected or calculated?
A: The CPI data is collected by Colombia's national statistics agency through surveys of consumer prices across the country.
Q: How is this trend used in economic policy?
A: The Recreation and Culture CPI is a key input for analyzing domestic consumption trends and making macroeconomic assessments in Colombia.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Recreation and Culture (COICOP 09): Total for Colombia (COLCP090000IXNBM), retrieved from FRED.