Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Colombia
COLCP020000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.63
Year-over-Year Change
-40.44%
Date Range
1/1/2009 - 11/1/2023
Summary
The Consumer Price Index for Alcoholic Beverages, Tobacco and Narcotics in Colombia measures price changes over time for this category of consumer goods and services. This trend is important for economists and policymakers to understand inflation and household 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 Consumer Price Index (CPI) is a key economic indicator that tracks the changes in the prices paid by consumers for a basket of goods and services. The CPI for Alcoholic Beverages, Tobacco and Narcotics specifically looks at price changes in this consumption category, providing insights into inflationary pressures and consumer behavior.
Methodology
The Colombian national statistics agency collects price data from a sample of retail outlets to calculate this CPI series.
Historical Context
Policymakers and analysts use this CPI trend to gauge domestic inflationary pressures and inform economic and fiscal policy decisions.
Key Facts
- Colombia's CPI for Alcoholic Beverages, Tobacco and Narcotics has a base year of 2018.
- This CPI series is published monthly by the national statistics agency DANE.
- Alcoholic beverages, tobacco, and narcotics account for around 3% of the Colombian consumer price basket.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the prices paid by Colombian consumers for alcoholic beverages, tobacco products, and narcotics over time.
Q: Why is this trend relevant for users or analysts?
A: This CPI series provides important insights into inflationary pressures and household spending patterns in Colombia, which is relevant for economic policymakers and market analysts.
Q: How is this data collected or calculated?
A: The Colombian national statistics agency DANE collects price data from a sample of retail outlets to calculate this CPI series.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this CPI trend to gauge domestic inflationary pressures and inform economic and fiscal policy decisions in Colombia.
Q: Are there update delays or limitations?
A: This CPI series is published monthly by DANE with minimal delays, providing timely data on price changes in this consumption category.
Related Trends
Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Actual Rentals for Housing: Total for Colombia
COLCP040100IXNBQ
General Government Expense for Colombia
COLGGEIGDP
Balance of Payments: Current Account: Expenditure for Colombia
COLB6DBTT01CXCUSAQ
Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Colombia
COLFCLOFINPXDC
Central government debt, total (% of GDP) for Colombia
DEBTTLCOA188A
Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Colombia
COLFCDODCANUM
Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Colombia (COLCP020000GPM), retrieved from FRED.