Consumer Price Index: Food and non-Alcoholic beverages (COICOP 01): Total: Total for G7
G7CP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.11
Year-over-Year Change
-192.43%
Date Range
2/1/1970 - 5/1/2018
Summary
The Consumer Price Index (CPI) for Food and non-Alcoholic beverages measures the inflation in these essential consumer goods across the G7 countries. This metric is a key indicator of changes in the cost of living and a critical input for economic policymakers.
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 represents the average change in prices paid by consumers in the G7 nations for this broad category of household expenditures. It is a subcomponent of the overall CPI and provides insights into inflationary pressures in a vital sector of the economy.
Methodology
The data is calculated based on a representative basket of consumer goods and services, with prices collected from a sample of retail and service establishments.
Historical Context
Central banks and finance ministries closely monitor this CPI metric to inform monetary and fiscal policies aimed at maintaining price stability.
Key Facts
- The G7 countries are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
- Food and non-Alcoholic beverages account for approximately 15-20% of total household consumption across the G7.
- The CPI for this category is a leading indicator of overall inflationary pressures in advanced economies.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and non-Alcoholic beverages measures the average change in prices paid by consumers in the G7 countries for this essential category of household expenditures.
Q: Why is this trend relevant for users or analysts?
A: This CPI metric is a critical indicator of inflationary pressures and changes in the cost of living, providing crucial insights for economic policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated based on a representative basket of consumer goods and services, with prices collected from a sample of retail and service establishments.
Q: How is this trend used in economic policy?
A: Central banks and finance ministries closely monitor this CPI metric to inform monetary and fiscal policies aimed at maintaining price stability and supporting economic growth.
Q: Are there update delays or limitations?
A: The CPI for Food and non-Alcoholic beverages is typically published on a monthly basis, with some potential for minor delays in data reporting across the G7 countries.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and non-Alcoholic beverages (COICOP 01): Total: Total for G7 (G7CP010000GPM), retrieved from FRED.