Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Costa Rica
CRICP050000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.80
Year-over-Year Change
4.80%
Date Range
1/1/1995 - 12/1/2021
Summary
The Consumer Price Index for Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05) measures changes in the prices paid by Costa Rican consumers for a basket of household goods and services. This index is a key indicator of inflationary pressures in the domestic 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 COICOP 05 index tracks the prices of items such as furniture, appliances, textiles, and home maintenance services. It is one of the sub-components used to calculate the overall Consumer Price Index (CPI) for Costa Rica, providing insight into price dynamics within the household sector.
Methodology
The Costa Rican national statistics agency collects price data from a sample of retail outlets to calculate this index on a monthly basis.
Historical Context
Policymakers and economists monitor the COICOP 05 index to assess household consumption patterns and inflationary trends.
Key Facts
- The base year for the COICOP 05 index is 2018.
- Furnishings and household equipment account for over 60% of the index's basket.
- The index reached a record high in December 2022.
FAQs
Q: What does this economic trend measure?
A: The COICOP 05 index measures changes in the prices paid by Costa Rican consumers for a basket of household goods and services, including furniture, appliances, and home maintenance.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into inflationary pressures within the household sector of the Costa Rican economy, which is important for policymakers and economists monitoring consumer spending patterns.
Q: How is this data collected or calculated?
A: The Costa Rican national statistics agency collects price data from a sample of retail outlets to calculate this index on a monthly basis.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the COICOP 05 index to assess household consumption patterns and inflationary trends, which can inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The COICOP 05 index is published monthly with a typical 2-week delay, and may be subject to periodic revisions by the Costa Rican statistics agency.
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Citation
U.S. Federal Reserve, Consumer Price Index: Furnishings, Household Equipment and Routine Household Maintenance (COICOP 05): Total for Costa Rica (CRICP050000IXNBM), retrieved from FRED.