Consumer Price Index: Health (COICOP 06): Total for Colombia
COLCP060000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.29
Year-over-Year Change
10.04%
Date Range
12/1/2008 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Health in Colombia measures changes in the prices of healthcare goods and services. It is a key indicator for monitoring inflation and evaluating the cost of living in the country.
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 Health in Colombia is a subcomponent of the overall CPI, which tracks the average change in prices paid by consumers for a basket of goods and services. The Health CPI specifically focuses on the prices of medical care, pharmaceuticals, and other health-related expenditures.
Methodology
The Colombian statistical agency collects price data from a sample of healthcare providers and pharmacies to calculate the CPI for Health.
Historical Context
The Health CPI is used by policymakers, economists, and the public to assess inflationary pressures and the affordability of healthcare in Colombia.
Key Facts
- The base year for the Colombian CPI for Health is 2018.
- Health accounts for approximately 6% of the overall CPI basket in Colombia.
- The Health CPI reached a high of 103.78 in December 2022.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Health in Colombia measures the average change in prices paid by consumers for healthcare goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Health CPI is a crucial indicator for monitoring inflation and the cost of living in Colombia, particularly for healthcare-related expenditures.
Q: How is this data collected or calculated?
A: The Colombian statistical agency collects price data from a sample of healthcare providers and pharmacies to calculate the CPI for Health.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and the public use the Health CPI to assess inflationary pressures and the affordability of healthcare in Colombia.
Q: Are there update delays or limitations?
A: The Health CPI for Colombia is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Colombia (COLCP060000IXNBM), retrieved from FRED.