Consumer Price Index: OECD Groups: Services Less Housing: Total for Colombia
COLCPGRLH01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.39
Year-over-Year Change
-20.55%
Date Range
2/1/1999 - 11/1/2023
Summary
The Consumer Price Index: OECD Groups: Services Less Housing: Total for Colombia measures the changes in prices of services excluding housing in Colombia. This economic indicator is crucial for understanding inflationary pressures and the cost of living in the country.
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 tracks the price changes of a basket of consumer services in Colombia, excluding housing costs. It is an important gauge of underlying inflation trends, as services often exhibit stickier price behavior compared to goods. Economists and policymakers closely monitor this indicator to assess the broader health of the Colombian economy.
Methodology
The data is collected through surveys of consumer prices by Colombia's national statistics agency.
Historical Context
The services CPI is a key input for the central bank's monetary policy decisions.
Key Facts
- The base year for this index is 2015.
- Services account for over 50% of Colombia's GDP.
- The index excludes housing, a major household expense.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: OECD Groups: Services Less Housing: Total for Colombia measures the changes in prices of consumer services, excluding housing costs, in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides crucial insights into underlying inflationary pressures in the Colombian economy, as services often exhibit more persistent price changes compared to goods.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys conducted by Colombia's national statistics agency.
Q: How is this trend used in economic policy?
A: The services CPI is a key input for the Colombian central bank's monetary policy decisions, as it helps assess broader inflationary dynamics in the economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with minimal delays, providing timely insights into service sector price trends in Colombia.
Related Trends
Orders: Construction: Permits Issued: Dwellings and Residential Buildings for Colombia
COLODCNPI03GYSAM
Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Water Supply and Miscellaneous Services Relating to the Dwelling: Total for Colombia
COLCP040400GPM
Value of Exports to Colombia from Kentucky
KYCOLA052SCEN
Stock Market Turnover Ratio (Value Traded/Capitalization) for Colombia
DDEM01COA156NWDB
Volatility of Stock Price Index for Colombia
DDSM01COA066NWDB
National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Colombia
COLNAEXKP03STSAQ
Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Services Less Housing: Total for Colombia (COLCPGRLH01GPM), retrieved from FRED.