Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Transport for Colombia
COLCP070000GYQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.14
Year-over-Year Change
-28.98%
Date Range
1/1/2010 - 1/1/2025
Summary
The Consumer Price Index (CPI) for Transport in Colombia measures the price changes of goods and services related to transportation for consumers. This key economic indicator helps analyze trends in inflation and consumer spending.
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 Transport CPI in Colombia is a sub-index of the overall Consumer Price Index. It tracks the prices of various transportation-related items such as fuel, public transit, and vehicle purchases and maintenance. This data is used by policymakers and analysts to assess the cost of living and inflationary pressures.
Methodology
The Colombian statistical agency, DANE, collects price data from a representative sample of businesses to calculate the Transport CPI.
Historical Context
The Transport CPI is an important input for monetary and fiscal policy decisions in Colombia.
Key Facts
- The Transport CPI has a weight of around 15% in the overall Colombian CPI basket.
- Colombia's Transport CPI reached a record high in 2022 amid rising fuel and vehicle costs.
- The Transport CPI is one of the fastest-changing components of the Colombian CPI.
FAQs
Q: What does this economic trend measure?
A: The Transport CPI for Colombia measures the price changes of goods and services related to transportation for consumers, including fuel, public transit, and vehicle purchases.
Q: Why is this trend relevant for users or analysts?
A: The Transport CPI is an important indicator of inflationary pressures and consumer spending in Colombia, providing insights for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The Colombian statistical agency, DANE, collects price data from a representative sample of businesses to calculate the Transport CPI.
Q: How is this trend used in economic policy?
A: The Transport CPI is a key input for monetary and fiscal policy decisions in Colombia, as it reflects changes in the cost of living and inflationary pressures.
Q: Are there update delays or limitations?
A: The Transport 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 Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Transport for Colombia (COLCP070000GYQ), retrieved from FRED.