Consumer Price Index for Benin
DDOE02BJA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.97
Year-over-Year Change
29.31%
Date Range
1/1/1991 - 1/1/2017
Summary
The Consumer Price Index for Benin measures the average change in prices paid by consumers for a basket of goods and services in Benin. It is a key indicator of inflation and helps policymakers and economists understand the state of the Beninese 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 Consumer Price Index (CPI) for Benin is a widely used economic indicator that tracks the prices of a representative basket of consumer goods and services in the country. It serves as a measure of inflation and is a crucial metric for assessing the purchasing power of Beninese consumers and the overall health of the Beninese economy.
Methodology
The Beninese statistical agency collects price data from a sample of retail establishments and service providers to calculate the CPI.
Historical Context
The CPI for Benin is closely monitored by the government, central bank, and international institutions to inform economic and monetary policy decisions.
Key Facts
- Benin's CPI has increased by an average of 2.3% annually over the past decade.
- Food and non-alcoholic beverages account for over 40% of the CPI basket in Benin.
- The Beninese government uses the CPI to index social benefits and public sector wages.
FAQs
Q: What does the Consumer Price Index for Benin measure?
A: The Consumer Price Index for Benin measures the average change in prices paid by consumers for a basket of goods and services in the country. It is a key indicator of inflation.
Q: Why is the Benin CPI relevant for users or analysts?
A: The Benin CPI is a crucial metric for understanding the purchasing power of consumers and the overall state of the Beninese economy. It informs economic and policy decisions by the government, central bank, and international institutions.
Q: How is the data for the Benin CPI collected or calculated?
A: The Beninese statistical agency collects price data from a sample of retail establishments and service providers to calculate the CPI.
Q: How is the Benin CPI used in economic policy?
A: The Benin CPI is closely monitored by the government, central bank, and international institutions to inform economic and monetary policy decisions.
Q: Are there any update delays or limitations with the Benin CPI data?
A: The Benin CPI data is published regularly by the statistical agency, but there may be occasional delays or limitations in data collection and reporting.
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Citation
U.S. Federal Reserve, Consumer Price Index for Benin (DDOE02BJA086NWDB), retrieved from FRED.