Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Turkey
TURCP010000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,294.35
Year-over-Year Change
316.86%
Date Range
1/1/1963 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages (COICOP 01) measures the average change in prices paid by consumers for a basket of food and non-alcoholic beverage items in Turkey. This economic indicator is vital for understanding household purchasing power and inflation trends.
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 (COICOP 01) represents the weighted average price changes of a comprehensive basket of food and non-alcoholic drink items purchased by Turkish consumers. It is a key component of the overall CPI and helps assess the cost of living and inflationary pressures in the Turkish economy.
Methodology
The Turkish Statistical Institute collects price data from a representative sample of retail outlets to calculate this index.
Historical Context
Central banks and policymakers use this CPI data to inform monetary policy decisions and manage inflation targets.
Key Facts
- The base year for this CPI series is 2015.
- Food and non-alcoholic beverages account for approximately 24% of the Turkish CPI basket.
- This index has been published monthly since January 2005.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages (COICOP 01) measures the average change in prices paid by consumers for a basket of food and non-alcoholic beverage items in Turkey.
Q: Why is this trend relevant for users or analysts?
A: This CPI data is vital for understanding household purchasing power and inflationary pressures in the Turkish economy, which is important for policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The Turkish Statistical Institute collects price data from a representative sample of retail outlets to calculate this index.
Q: How is this trend used in economic policy?
A: Central banks and policymakers use this CPI data to inform monetary policy decisions and manage inflation targets in Turkey.
Q: Are there update delays or limitations?
A: This CPI series is published monthly with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Turkey (TURCP010000IXNBQ), retrieved from FRED.