Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Colombia
COLCP030000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.23
Year-over-Year Change
-28.36%
Date Range
1/1/2009 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Clothing and Footwear (COICOP 03) measures changes in the prices paid by Colombian consumers for a basket of apparel and shoe products. This metric is a key indicator of inflationary pressures and consumer purchasing power in the clothing and footwear sector.
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 Clothing and Footwear in Colombia tracks the monthly price changes of a representative sample of clothing, footwear, and related accessories purchased by households. This index is used by policymakers, analysts, and businesses to assess inflationary trends and consumer behavior in the Colombian retail market.
Methodology
The data is collected through surveys of prices paid by consumers at retail outlets across Colombia.
Historical Context
This CPI metric helps inform monetary and fiscal policies aimed at maintaining price stability and supporting household consumption.
Key Facts
- The base year for this CPI index is 2020.
- Clothing and footwear account for about 5% of the Colombian consumer price basket.
- The CPI for this sector reached a record high in 2022.
FAQs
Q: What does this economic trend measure?
A: This index measures monthly changes in the prices paid by Colombian consumers for a basket of clothing, footwear, and related accessories.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Clothing and Footwear is a key indicator of inflationary pressures and consumer purchasing power in the retail sector, which helps inform economic policymaking and business decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of prices paid by consumers at retail outlets across Colombia.
Q: How is this trend used in economic policy?
A: This CPI metric helps policymakers assess inflationary trends and consumer behavior, informing monetary and fiscal policies aimed at maintaining price stability and supporting household consumption.
Q: Are there update delays or limitations?
A: The CPI data for Colombia is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Colombia (COLCP030000GPM), retrieved from FRED.