Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Colombia
COLCPGRSE01GYQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.13
Year-over-Year Change
92.78%
Date Range
1/1/1996 - 1/1/2025
Summary
The Consumer Price Index (CPI) for Services in Colombia measures the change in prices for a basket of consumer services over time. This data provides valuable insights into inflation trends and the cost of living in the Colombian economy.
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 CPI for Services in Colombia is a key economic indicator that tracks the prices of a diverse range of consumer services, including housing, utilities, transportation, healthcare, and entertainment. This metric is widely used by policymakers, economists, and consumers to assess the overall cost of living and make informed decisions.
Methodology
The data is collected through a nationwide survey of households and businesses, and the index is calculated using a weighted average of service prices.
Historical Context
The CPI for Services is an important input for monetary policy decisions and can influence consumer confidence and spending patterns.
Key Facts
- The CPI for Services in Colombia has a base year of 1999.
- Services account for over half of the total CPI basket in Colombia.
- Housing and utilities are the largest components of the Services CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Services in Colombia measures the change in prices for a basket of consumer services over time.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Services is a key indicator of inflation and the cost of living in Colombia, providing valuable insights for policymakers, economists, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of households and businesses, and the index is calculated using a weighted average of service prices.
Q: How is this trend used in economic policy?
A: The CPI for Services is an important input for monetary policy decisions and can influence consumer confidence and spending patterns in Colombia.
Q: Are there update delays or limitations?
A: The CPI for Services data is published on a regular schedule, with potential delays or limitations depending on the data collection and processing timelines.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Colombia (COLCPGRSE01GYQ), retrieved from FRED.