Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Costa Rica
CRICP020000GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.23
Year-over-Year Change
6.76%
Date Range
1/1/1996 - 12/1/2021
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics measures changes in the cost of these products for consumers in Costa Rica. This key economic indicator helps policymakers and analysts understand trends in consumer spending and inflation.
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 Alcoholic Beverages, Tobacco and Narcotics is a component of the broader Costa Rican Consumer Price Index, which tracks the weighted average change in prices paid by consumers for a basket of goods and services. This specific index is used to monitor price fluctuations in this important consumer category.
Methodology
The data is collected through surveys of consumer purchases and calculated using a fixed-weight formula.
Historical Context
Trends in this CPI component are closely watched by the Central Bank of Costa Rica and other institutions to assess inflationary pressures.
Key Facts
- Costa Rica's CPI for Alcoholic Beverages, Tobacco and Narcotics has a base year of 2014.
- This index accounts for approximately 3.5% of the total Costa Rican CPI basket.
- Alcoholic beverages have the largest weight within this CPI component at around 60%.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics measures changes in the prices of these products for consumers in Costa Rica.
Q: Why is this trend relevant for users or analysts?
A: This CPI component is an important indicator of inflationary pressures and consumer spending patterns in Costa Rica, relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and calculated using a fixed-weight formula.
Q: How is this trend used in economic policy?
A: The Central Bank of Costa Rica and other institutions monitor this CPI component to assess overall inflationary trends and make informed policy decisions.
Q: Are there update delays or limitations?
A: The CPI data is typically published on a monthly basis with a short lag, providing timely insights into consumer price dynamics.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Costa Rica (CRICP020000GYM), retrieved from FRED.