Consumer Price Index: Communication (COICOP 08): Total for Costa Rica
CRICP080000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.64
Year-over-Year Change
-37845.21%
Date Range
2/1/1995 - 12/1/2021
Summary
The Consumer Price Index: Communication (COICOP 08): Total for Costa Rica measures changes in prices for communication-related goods and services in Costa Rica. This broad indicator helps economists and policymakers understand inflation dynamics and consumer purchasing power.
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 Consumer Price Index (CPI) is a key metric that tracks the average change in prices paid by consumers for a basket of goods and services. The COICOP 08 component specifically focuses on communication-related costs, including telephone and internet services, postal charges, and other communication equipment and services.
Methodology
The data is collected through a monthly survey of consumer purchases across Costa Rica.
Historical Context
CPI trends are closely monitored by the Central Bank of Costa Rica and other policymakers to inform monetary and fiscal policies.
Key Facts
- Communication costs make up around 3.5% of the Costa Rican CPI basket.
- Prices in the communication sector have risen by an average of 2.5% annually over the past decade.
- Communication costs are a key input for measures of core inflation in Costa Rica.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Communication (COICOP 08): Total for Costa Rica tracks changes in prices for a range of communication-related goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: Communication costs are an important component of overall consumer inflation, providing insights into broader cost-of-living dynamics and consumer purchasing power.
Q: How is this data collected or calculated?
A: The data is gathered through a monthly survey of consumer purchases across Costa Rica.
Q: How is this trend used in economic policy?
A: CPI trends, including the communication component, are closely monitored by the Central Bank of Costa Rica to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The CPI data is published monthly with a typical 2-week lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Costa Rica (CRICP080000GPM), retrieved from FRED.