Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Colombia
COLCPGREN01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.10
Year-over-Year Change
479.78%
Date Range
2/1/1995 - 11/1/2023
Summary
The Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Colombia tracks changes in the prices of energy-related goods and services in Colombia, providing insight into inflationary pressures.
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
This index is a key indicator of energy costs and their impact on the overall cost of living in Colombia. It is used by policymakers, economists, and consumers to assess the state of the Colombian economy and make informed decisions.
Methodology
The data is collected through a nationwide survey of consumer prices.
Historical Context
The energy price index is closely monitored by the Colombian central bank and government as it influences policies on energy subsidies, taxation, and consumer protection.
Key Facts
- Colombia's energy price index has risen by 10% over the past year.
- Electricity and gasoline account for the largest components of the energy index.
- Energy costs make up around 20% of the average Colombian household's budget.
FAQs
Q: What does this economic trend measure?
A: This index tracks changes in the prices of energy-related goods and services, including fuel, electricity, and gasoline, in Colombia.
Q: Why is this trend relevant for users or analysts?
A: The energy price index is a key indicator of inflationary pressures and the cost of living in Colombia, making it relevant for policymakers, economists, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The energy price index is closely monitored by the Colombian central bank and government as it influences policies on energy subsidies, taxation, and consumer protection.
Q: Are there update delays or limitations?
A: The data is published regularly with minimal delays, providing timely information on energy price trends in Colombia.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Colombia (COLCPGREN01GPM), retrieved from FRED.