Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for India
INDCP020000GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.93
Year-over-Year Change
-50.94%
Date Range
1/1/2014 - 5/1/2019
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in India measures price changes for these household consumption items. This important economic indicator provides insights into consumer spending and inflation trends.
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 Alcoholic Beverages, Tobacco and Narcotics is a subcomponent of the overall Consumer Price Index, which tracks the average change in prices paid by consumers for a basket of goods and services. This specific index focuses on the prices of alcohol, tobacco, and other related products, offering valuable data for policymakers and analysts.
Methodology
The data is collected through regular price surveys of a representative sample of retail outlets across India.
Historical Context
Trends in this CPI component are closely monitored by the Reserve Bank of India and other institutions to assess inflationary pressures and consumer behavior.
Key Facts
- The CPI for Alcoholic Beverages, Tobacco and Narcotics has a base year of 2012.
- This index accounts for approximately 2.4% of the overall Consumer Price Index in India.
- Trends in this CPI component can indicate changes in consumer preferences and spending patterns.
FAQs
Q: What does this economic trend measure?
A: The CPI for Alcoholic Beverages, Tobacco and Narcotics measures the average change in prices for these household consumption items in India.
Q: Why is this trend relevant for users or analysts?
A: This CPI component provides valuable insights into consumer spending and inflation dynamics, which are crucial for policymakers and economists analyzing the Indian economy.
Q: How is this data collected or calculated?
A: The data is collected through regular price surveys of a representative sample of retail outlets across India.
Q: How is this trend used in economic policy?
A: Trends in this CPI component are closely monitored by the Reserve Bank of India and other institutions to assess inflationary pressures and consumer behavior.
Q: Are there update delays or limitations?
A: The CPI data for Alcoholic Beverages, Tobacco and Narcotics is typically released on a monthly basis, with a short delay from the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for India (INDCP020000GYM), retrieved from FRED.