Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total
OECDCP010000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.79
Year-over-Year Change
6.67%
Date Range
1/1/1970 - 11/1/2023
Summary
The Consumer Price Index for Food and Non-Alcoholic Beverages measures changes in the prices paid by consumers for food and non-alcoholic drink items. This key economic indicator helps policymakers and analysts assess the impact of food costs on overall inflation.
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 Food and Non-Alcoholic Beverages CPI tracks the price movement of a basket of food and beverage goods that are representative of household consumption. It is an important component of the broader Consumer Price Index, providing insights into a major driver of consumer spending.
Methodology
The data is collected through consumer surveys and reflects the average change in prices paid by households.
Historical Context
Central banks and governments monitor this index to inform monetary and fiscal policies.
Key Facts
- The Food and Non-Alcoholic Beverages CPI accounts for about 15% of the overall Consumer Price Index.
- Prices for food and non-alcoholic beverages have increased by an average of 2.3% per year over the past decade.
- Monitoring this index helps policymakers assess the impact of food costs on household budgets and overall inflation.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Food and Non-Alcoholic Beverages measures changes in the prices paid by consumers for a basket of food and beverage items.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into a major component of household spending and is a key indicator of inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and reflects the average change in prices paid by households for the specified goods.
Q: How is this trend used in economic policy?
A: Central banks and governments monitor this index to inform monetary and fiscal policies aimed at managing overall inflation and supporting consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is published monthly with minimal delays, providing timely insights into changing food and beverage costs.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total (OECDCP010000IXNBM), retrieved from FRED.