Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Colombia
COLCP010000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.45
Year-over-Year Change
-130.26%
Date Range
2/1/1995 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Colombia measures changes in the prices paid by consumers for a basket of food and non-alcoholic drink items. This key indicator provides insights into the cost of living and inflationary pressures in the Colombian economy.
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 in Colombia tracks the monthly changes in the retail prices of a representative basket of food and non-alcoholic drink products. It is an important measure of general price levels and a key input for policymakers and analysts assessing economic conditions.
Methodology
The Colombian national statistics agency, DANE, collects price data from a sample of retail outlets to calculate this CPI series.
Historical Context
Trends in this CPI measure are closely monitored by the Central Bank of Colombia and other institutions to gauge inflationary pressures and inform monetary policy decisions.
Key Facts
- Colombia's food and non-alcoholic beverage CPI has a base year of 2018.
- This CPI series is published monthly by Colombia's national statistics agency, DANE.
- Food and non-alcoholic beverages account for over a quarter of the Colombian consumer price index basket.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Colombia measures changes in the retail prices paid by consumers for a representative basket of food and non-alcoholic drink items.
Q: Why is this trend relevant for users or analysts?
A: This CPI measure provides important insights into inflationary pressures and the cost of living for Colombian households, making it a closely watched indicator for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: Colombia's national statistics agency, DANE, collects price data from a sample of retail outlets to calculate this monthly CPI series.
Q: How is this trend used in economic policy?
A: Trends in the food and non-alcoholic beverage CPI are closely monitored by the Central Bank of Colombia and other institutions to assess inflationary pressures and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: This CPI series is published monthly by DANE with no significant update delays, providing timely data on changes in Colombian food and beverage prices.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Colombia (COLCP010000GPM), retrieved from FRED.