Price Level of Consumption for Colombia
PLOCONCOA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.92
Year-over-Year Change
17.30%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Consumption for Colombia measures the general price level of consumer goods and services in the Colombian economy. This key inflation indicator helps policymakers and analysts understand cost-of-living trends and consumer purchasing power.
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 Price Level of Consumption for Colombia tracks the average change in prices paid by Colombian consumers for a basket of common goods and services. It is a core economic metric used to assess inflationary pressures and consumer price stability in the country.
Methodology
The data is collected through surveys of consumer expenditures and prices by Colombia's national statistics agency.
Historical Context
This inflation gauge informs monetary policy decisions by the Central Bank of Colombia.
Key Facts
- Colombia's inflation rate was 4.7% in 2022.
- The consumption price index has risen over 60% in the past decade.
- Controlling inflation is a key policy goal for the Central Bank of Colombia.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Colombia tracks the average change in prices paid by Colombian consumers for a basket of common goods and services.
Q: Why is this trend relevant for users or analysts?
A: This key inflation indicator helps policymakers and analysts understand cost-of-living trends and consumer purchasing power in the Colombian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and prices by Colombia's national statistics agency.
Q: How is this trend used in economic policy?
A: This inflation gauge informs monetary policy decisions by the Central Bank of Colombia.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 2-3 week release lag.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Colombia (PLOCONCOA622NUPN), retrieved from FRED.