Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Colombia
COLCP030000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.05
Year-over-Year Change
5.65%
Date Range
12/1/2008 - 11/1/2023
Summary
The Consumer Price Index for Clothing and Footwear (COICOP 03) in Colombia measures price changes over time for a basket of apparel, accessories, and footwear items. This key indicator provides insights into inflationary pressures and consumer spending patterns in the Colombian retail 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 Clothing and Footwear CPI is a component of the broader Consumer Price Index, which tracks the average change in prices paid by Colombian consumers for a representative basket of goods and services. This index is a vital economic statistic used by policymakers, analysts, and businesses to assess inflationary trends and make informed decisions.
Methodology
The data is collected through regular surveys of retail establishments across Colombia.
Historical Context
The Clothing and Footwear CPI is closely monitored by the Central Bank of Colombia and other government agencies to guide monetary and fiscal policy decisions.
Key Facts
- The Clothing and Footwear CPI is a component of the broader Colombian CPI.
- The index is based on a representative basket of apparel, accessories, and footwear items.
- It provides insights into inflationary pressures and consumer spending patterns in Colombia.
FAQs
Q: What does this economic trend measure?
A: The Clothing and Footwear CPI (COICOP 03) measures the average change in prices paid by Colombian consumers for a basket of apparel, accessories, and footwear items.
Q: Why is this trend relevant for users or analysts?
A: This index is a key economic indicator used by policymakers, analysts, and businesses to assess inflationary pressures and consumer spending patterns in the Colombian retail sector.
Q: How is this data collected or calculated?
A: The data is collected through regular surveys of retail establishments across Colombia.
Q: How is this trend used in economic policy?
A: The Clothing and Footwear CPI is closely monitored by the Central Bank of Colombia and other government agencies to guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Colombia with minimal delays, providing timely insights into inflationary trends in the clothing and footwear sector.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Colombia (COLCP030000IXNBM), retrieved from FRED.