Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Czech Republic
CZECP020000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.84
Year-over-Year Change
-49.93%
Date Range
4/1/1995 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics measures the cost of these goods and services in the Czech Republic. This metric is a key indicator of inflation and consumer spending in this sector.
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 subcomponent of the overall CPI, which tracks the average change in prices paid by consumers for a basket of goods and services. This sector-specific CPI is used by economists and policymakers to analyze trends in consumer behavior and the broader cost of living.
Methodology
The data is collected through surveys of consumer prices and calculated using a weighted average methodology.
Historical Context
Policymakers and analysts monitor this CPI to gauge consumer demand and inflationary pressures in the alcohol, tobacco, and narcotics market.
Key Facts
- The CPI for this sector is a subcomponent of the overall Czech CPI.
- Alcoholic beverages, tobacco, and narcotics account for around 3.5% of Czech consumer spending.
- This CPI is updated monthly by the Czech Statistical Office.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics measures the average change in prices paid by consumers for these goods and services in the Czech Republic.
Q: Why is this trend relevant for users or analysts?
A: This sector-specific CPI is used by economists and policymakers to analyze trends in consumer behavior and inflationary pressures within the alcohol, tobacco, and narcotics market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices and calculated using a weighted average methodology by the Czech Statistical Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this CPI to gauge consumer demand and inflationary pressures in the alcohol, tobacco, and narcotics sector, which can inform economic and regulatory decisions.
Q: Are there update delays or limitations?
A: This CPI is updated monthly by the Czech Statistical Office with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Czech Republic (CZECP020000GPQ), retrieved from FRED.