Consumer Price Index: Food and non-Alcoholic beverages (COICOP 01): Total: Total for G7
G7CP010000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.02
Year-over-Year Change
0.82%
Date Range
1/1/1970 - 5/1/2018
Summary
The Consumer Price Index: Food and non-Alcoholic beverages (COICOP 01): Total: Total for G7 tracks price changes for food and non-alcoholic beverages across the G7 economies, providing a key indicator of inflation in this major consumer spending category.
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 economic indicator measures the price movements of food and non-alcoholic beverages purchased by households in the G7 countries, which include the world's largest advanced economies. It is a crucial metric for assessing consumer price trends and the overall cost of living.
Methodology
The data is collected through household surveys and retail price monitoring across the G7 nations.
Historical Context
This index is widely used by policymakers, central banks, and market analysts to understand inflationary pressures and consumer behavior.
Key Facts
- The G7 economies account for over 60% of global GDP.
- Food and non-alcoholic beverages make up about 15% of the typical household consumption basket.
- Tracking this index helps central banks assess and respond to inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the price changes for food and non-alcoholic beverages purchased by households in the G7 countries, which include the United States, Canada, United Kingdom, France, Germany, Italy, and Japan.
Q: Why is this trend relevant for users or analysts?
A: This index is a crucial metric for assessing consumer price trends and the overall cost of living, which is vital information for policymakers, central banks, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and retail price monitoring across the G7 nations.
Q: How is this trend used in economic policy?
A: This index is widely used by policymakers, central banks, and market analysts to understand inflationary pressures and consumer behavior, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is updated monthly, but there may be some delays in 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 (G7CP010000IXNBM), retrieved from FRED.