National Accounts: National Accounts Deflators: Gross Domestic Product: GDP Deflator for Colombia
COLNAGIGP01IXOBSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.39
Year-over-Year Change
31.29%
Date Range
1/1/2005 - 7/1/2023
Summary
The GDP Deflator for Colombia is a key measure of overall price changes in the Colombian economy. It is an important indicator for policymakers and analysts to assess inflationary pressures and the real growth of the Colombian GDP.
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 GDP Deflator is a comprehensive price index that measures the prices of all goods and services that make up the Gross Domestic Product. It provides a broader picture of inflation compared to more targeted measures like the Consumer Price Index.
Methodology
The data is calculated by the Colombian National Administrative Department of Statistics (DANE) using national accounts data.
Historical Context
The GDP Deflator is closely watched by the Central Bank of Colombia and international financial institutions to guide monetary and fiscal policy decisions.
Key Facts
- The GDP Deflator tracks prices of all goods and services, not just consumer goods.
- Colombia's GDP Deflator has risen by over 50% in the past decade.
- The GDP Deflator is a more comprehensive measure of inflation than the CPI.
FAQs
Q: What does this economic trend measure?
A: The GDP Deflator measures the changes in prices of all goods and services that make up the Gross Domestic Product of Colombia.
Q: Why is this trend relevant for users or analysts?
A: The GDP Deflator is a key indicator for assessing inflationary pressures and the real growth of the Colombian economy, making it important for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the Colombian National Administrative Department of Statistics (DANE) using national accounts data.
Q: How is this trend used in economic policy?
A: The GDP Deflator is closely monitored by the Central Bank of Colombia and international institutions to guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The GDP Deflator data is published quarterly by DANE with some lag, typically 1-2 months after the end of the reference period.
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Citation
U.S. Federal Reserve, National Accounts: National Accounts Deflators: Gross Domestic Product: GDP Deflator for Colombia (COLNAGIGP01IXOBSAQ), retrieved from FRED.