Consumer Price Index: Transport (COICOP 07): Total for Russia
RUSCP070000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
-35.16%
Date Range
1/1/2010 - 2/1/2022
Summary
The Consumer Price Index: Transport (COICOP 07): Total for Russia measures changes in the prices of transportation goods and services for Russian consumers. This key indicator provides insights into inflationary pressures 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 Transport CPI for Russia tracks the costs of a broad range of transportation-related expenditures, including private vehicle purchases, fuel, public transit fares, and other mobility-related spending. It is a valuable tool for economists and policymakers to understand broader price dynamics and the cost of living in the Russian economy.
Methodology
The data is collected through a nationwide survey of consumer transactions and prices.
Historical Context
Transport costs significantly impact household budgets, so trends in this CPI component are closely monitored by the Central Bank of Russia and other institutions.
Key Facts
- Transportation accounts for over 15% of Russian household expenditures.
- The Transport CPI reached an all-time high in 2022 due to global energy price shocks.
- Rising transport costs have contributed to the highest inflation rates in Russia since the 1990s.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Transport (COICOP 07): Total for Russia measures changes in the prices of transportation goods and services paid by Russian consumers.
Q: Why is this trend relevant for users or analysts?
A: Transport costs significantly impact household budgets, so this CPI component is closely monitored by economists and policymakers to understand broader inflationary pressures in the Russian economy.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer transactions and prices.
Q: How is this trend used in economic policy?
A: The Transport CPI is a key input used by the Central Bank of Russia and other institutions to formulate monetary and fiscal policies aimed at managing inflation and supporting consumer purchasing power.
Q: Are there update delays or limitations?
A: The Transport CPI data is published monthly with a short lag, providing timely insights into evolving price dynamics.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Russia (RUSCP070000GPM), retrieved from FRED.