Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total
OECDCP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.03
Year-over-Year Change
-103.77%
Date Range
2/1/1970 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages tracks changes in the cost of food and beverage purchases for consumers. This key economic indicator is closely monitored by policymakers and analysts to assess inflationary pressures and consumer spending patterns.
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 is a subcomponent of the overall Consumer Price Index, which measures changes in the prices paid by consumers for a basket of goods and services. This specific index provides insights into the cost of essential household purchases and can signal shifts in consumer behavior and sentiment.
Methodology
The data is collected through surveys of consumer expenditures and price quotes from retail outlets.
Historical Context
Trends in food and beverage prices are closely watched by the Federal Reserve and other policymakers for their potential impact on inflation and household budgets.
Key Facts
- The CPI for Food and Non-Alcoholic Beverages is a monthly economic indicator.
- This index accounts for approximately 15% of the overall Consumer Price Index.
- Food and beverage prices can be influenced by factors like weather, commodity prices, and supply chain disruptions.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Food and Non-Alcoholic Beverages measures the changes in the prices paid by consumers for food and non-alcoholic beverage purchases.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into inflationary pressures and consumer spending patterns, which are closely monitored by policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and price quotes from retail outlets.
Q: How is this trend used in economic policy?
A: Trends in food and beverage prices are closely watched by the Federal Reserve and other policymakers for their potential impact on inflation and household budgets, which can inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The CPI for Food and Non-Alcoholic Beverages is published monthly, with a typical release lag of approximately two weeks after the end of the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total (OECDCP010000GPM), retrieved from FRED.