Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Turkey
TURCP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.78
Year-over-Year Change
-51.71%
Date Range
1/1/1963 - 11/1/2023
Summary
The Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Turkey measures the change in prices of food and non-alcoholic beverages in Turkey. This key economic indicator is closely monitored by policymakers and analysts to gauge inflationary pressures and consumer spending.
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
This index tracks the prices of a basket of food and non-alcoholic beverage items commonly purchased by Turkish consumers. It is an important component of the overall Consumer Price Index, which is the primary measure of inflation in the Turkish economy.
Methodology
The data is collected through surveys of retail establishments and households by the Turkish Statistical Institute.
Historical Context
The food and non-alcoholic beverages index is a crucial input for the Central Bank of Turkey's monetary policy decisions.
Key Facts
- Turkey's food and non-alcoholic beverages index has a 24.3% weight in the overall Consumer Price Index.
- The index rose by 80.5% year-over-year as of March 2023.
- Food accounts for the largest share of Turkish household spending at 24.3% of total expenditures.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Turkey measures the change in prices of food and non-alcoholic beverage items purchased by Turkish consumers.
Q: Why is this trend relevant for users or analysts?
A: This index is a crucial indicator of inflationary pressures and consumer spending in the Turkish economy, and is closely monitored by policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and households by the Turkish Statistical Institute.
Q: How is this trend used in economic policy?
A: The food and non-alcoholic beverages index is a key input for the Central Bank of Turkey's monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Turkey (TURCP010000GPM), retrieved from FRED.