Inflation, consumer prices for Colombia
FPCPITOTLZGCOL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.61
Year-over-Year Change
108.53%
Date Range
1/1/1960 - 1/1/2024
Summary
The 'Inflation, consumer prices for Colombia' series measures the rate of change in the overall price level of consumer goods and services in Colombia. It is a key economic indicator used to assess the cost of living and guide monetary policy decisions.
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
This series tracks the Consumer Price Index (CPI), which is a measure of the average change in prices paid by consumers for a basket of goods and services in Colombia. The CPI is a widely used benchmark for understanding inflationary trends and making economic comparisons.
Methodology
The data is collected through surveys of consumer expenditures and compiled by Colombia's national statistics agency.
Historical Context
Policymakers and central banks closely monitor CPI data to inform decisions on interest rates, monetary policy, and other economic interventions.
Key Facts
- Colombia's annual inflation rate was 5.8% as of December 2022.
- The CPI basket includes over 400 goods and services commonly purchased by Colombian consumers.
- The Colombian central bank targets an inflation rate between 2-4% annually.
FAQs
Q: What does this economic trend measure?
A: The 'Inflation, consumer prices for Colombia' series measures the change in the overall price level of consumer goods and services in Colombia.
Q: Why is this trend relevant for users or analysts?
A: This inflation data is a key indicator of the cost of living and helps guide monetary policy decisions in Colombia.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and compiled by Colombia's national statistics agency.
Q: How is this trend used in economic policy?
A: Policymakers and the central bank closely monitor CPI data to inform decisions on interest rates, monetary policy, and other economic interventions.
Q: Are there update delays or limitations?
A: The CPI data for Colombia is typically published on a monthly basis with a short delay.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Colombia (FPCPITOTLZGCOL), retrieved from FRED.