Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Finland
FINCP010000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.16
Year-over-Year Change
20.93%
Date Range
1/1/1960 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Finland measures changes in the prices of food and non-alcoholic drink purchases by Finnish consumers. This key economic indicator provides insights into household spending and inflation pressures.
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 Food and Non-Alcoholic Beverages in Finland is a subindex of the overall CPI, which tracks the average change in prices paid by consumers for a basket of goods and services. The food and non-alcoholic beverages component is closely watched by policymakers and analysts to assess domestic demand and cost-of-living trends.
Methodology
The data is collected through regular surveys of retail establishments in Finland.
Historical Context
Movements in the food and non-alcoholic beverages CPI are closely monitored by the Bank of Finland and other authorities to inform monetary and fiscal policy decisions.
Key Facts
- Finland's food and non-alcoholic beverages CPI has a base year of 2015.
- This index accounts for around 16% of the overall CPI basket in Finland.
- Prices have risen by an average of 2.5% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Food and Non-Alcoholic Beverages in Finland measures the average change in prices paid by consumers for food and non-alcoholic drink purchases.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into household spending patterns and inflationary pressures within the Finnish economy, which is valuable information for policymakers and market participants.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of retail establishments in Finland.
Q: How is this trend used in economic policy?
A: Movements in the food and non-alcoholic beverages CPI are closely monitored by the Bank of Finland and other authorities to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The CPI data is published on a monthly basis with a short time lag, providing timely insights into price trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Finland (FINCP010000IXNBQ), retrieved from FRED.