Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Colombia
COLCP110000GYQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.71
Year-over-Year Change
-36.99%
Date Range
1/1/2010 - 1/1/2025
Summary
The Consumer Price Index (CPI) for Restaurants and Hotels in Colombia measures the changes in prices for a basket of goods and services related to dining out and accommodations. This indicator provides insights into inflationary pressures and consumer spending patterns in the hospitality 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 Restaurants and Hotels CPI is a subcomponent of the broader Consumer Price Index, which tracks the cost of a representative basket of consumer goods and services. It specifically focuses on price changes for items like restaurant meals, hotel stays, and other hospitality-related expenditures. This data is a key input for policymakers and economists analyzing consumer behavior and the overall state of the Colombian economy.
Methodology
The CPI data is collected through surveys of businesses and households by the National Administrative Department of Statistics (DANE) in Colombia.
Historical Context
The Restaurants and Hotels CPI is used to gauge inflationary trends and consumer confidence, which can inform monetary policy decisions and business strategies.
Key Facts
- The Restaurants and Hotels CPI is a subindex of the broader Colombian CPI.
- Prices for the Restaurants and Hotels CPI are surveyed monthly by DANE.
- This indicator provides insights into consumer spending and inflationary pressures in the hospitality sector.
FAQs
Q: What does this economic trend measure?
A: The Restaurants and Hotels CPI measures changes in prices for a basket of goods and services related to dining out and accommodations in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into inflationary pressures and consumer spending patterns in the hospitality sector, which is useful for policymakers and businesses.
Q: How is this data collected or calculated?
A: The CPI data is collected through surveys of businesses and households by the National Administrative Department of Statistics (DANE) in Colombia.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels CPI is used to gauge inflationary trends and consumer confidence, which can inform monetary policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI data is published monthly with a short delay, providing timely insights into the hospitality sector.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Colombia (COLCP110000GYQ), retrieved from FRED.