Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Austria
AUTCP010000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.83
Year-over-Year Change
24.42%
Date Range
1/1/1960 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Austria tracks changes in the prices of food, non-alcoholic drinks, and related items. It serves as a key indicator of consumer inflation and 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 CPI for Food and Non-Alcoholic Beverages is a subcomponent of the overall CPI, a widely used measure of inflation. It reflects the average change in prices paid by Austrian consumers for a fixed basket of food and beverage items. This metric is closely monitored by policymakers, economists, and households.
Methodology
The data is collected through surveys of retail establishments and households by the Austrian statistical agency.
Historical Context
Changes in the food and beverage CPI are analyzed alongside the broader CPI to assess cost-of-living trends and guide economic and monetary policy decisions.
Key Facts
- Austria's food and beverage CPI has risen by an average of 2.5% annually over the past decade.
- Food accounts for about 15% of the total Austrian consumer price index basket.
- The CPI for food and non-alcoholic drinks is a leading indicator of household purchasing power.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Austria tracks changes in the retail prices of food, non-alcoholic drinks, and related items purchased by consumers.
Q: Why is this trend relevant for users or analysts?
A: Changes in food and beverage prices are closely watched as they have a significant impact on household budgets and overall consumer inflation. This metric provides insights into cost-of-living pressures and is used by policymakers and economists to inform economic decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and households by the Austrian statistical agency.
Q: How is this trend used in economic policy?
A: The food and beverage CPI is analyzed alongside the broader CPI to assess inflationary pressures and guide monetary and fiscal policy decisions aimed at promoting economic stability and growth.
Q: Are there update delays or limitations?
A: The CPI for Food and Non-Alcoholic Beverages in Austria is published monthly with a lag of approximately two weeks, providing timely information on cost-of-living trends.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Austria (AUTCP010000IXNBQ), retrieved from FRED.