Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for United States
CPGREN01USQ657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.80
Year-over-Year Change
483.59%
Date Range
1/1/1960 - 10/1/2023
Summary
The Consumer Price Index (CPI) for OECD Energy Groups measures changes in the prices of fuel, electricity, and gasoline in the United States. It is a key indicator of inflation and consumer spending patterns.
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 OECD Energy CPI tracks the prices of essential energy products that significantly impact household budgets and the broader economy. It is used by policymakers, analysts, and researchers to monitor price trends and understand the drivers of inflation.
Methodology
The data is collected through surveys of retail establishments and service providers by the U.S. Bureau of Labor Statistics.
Historical Context
The OECD Energy CPI is closely watched by the Federal Reserve and other institutions to assess macroeconomic conditions and the need for policy interventions.
Key Facts
- The OECD Energy CPI is a component of the broader U.S. Consumer Price Index.
- Energy costs make up approximately 7% of the average U.S. household budget.
- Gasoline prices are a major driver of the OECD Energy CPI.
FAQs
Q: What does this economic trend measure?
A: The OECD Energy CPI measures changes in the prices of fuel, electricity, and gasoline for consumers in the United States.
Q: Why is this trend relevant for users or analysts?
A: The OECD Energy CPI is a key indicator of inflation and consumer spending patterns, which are crucial for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and service providers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The OECD Energy CPI is closely monitored by the Federal Reserve and other institutions to assess macroeconomic conditions and the need for policy interventions.
Q: Are there update delays or limitations?
A: The OECD Energy CPI data is published monthly with a typical lag of around two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for United States (CPGREN01USQ657N), retrieved from FRED.