Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Canada
CANCP020000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.38
Year-over-Year Change
19.92%
Date Range
1/1/2015 - 11/1/2023
Summary
The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics in Canada measures the change in prices for these consumer goods over time. This metric is closely watched by economists and policymakers to understand inflationary pressures and consumer spending patterns.
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 COICOP 02 index tracks the prices of alcoholic drinks, tobacco products, and narcotics in Canada. It is a key component of the overall Consumer Price Index and provides insights into a significant portion of household budgets and consumption.
Methodology
This data is collected through regular surveys of retailers and service providers across Canada.
Historical Context
Trends in this index inform monetary policy decisions and help economists assess the state of the Canadian economy.
Key Facts
- The COICOP 02 index accounts for about 4% of the total Canadian CPI basket.
- Prices in this category have risen by an average of 2.5% annually over the past decade.
- Tobacco products make up the largest component of this index, around 60% of the total.
FAQs
Q: What does this economic trend measure?
A: The COICOP 02 index measures the change in prices for alcoholic beverages, tobacco products, and narcotics in Canada.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into a significant portion of household budgets and consumption patterns, which is important for understanding broader inflationary pressures and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of retailers and service providers across Canada.
Q: How is this trend used in economic policy?
A: Trends in this index inform monetary policy decisions and help economists assess the state of the Canadian economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with minimal delays, providing timely insights into this component of the Canadian Consumer Price Index.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Canada (CANCP020000GPM), retrieved from FRED.