Consumer Price Index: Transport (COICOP 07): Total for Colombia
Index source base
COLCP070000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
142.32
Year-over-Year Change
16.54%
Date Range
12/1/2008 - 11/1/2023
Summary
The Index Source Base tracks the base year used for calculating price indexes across the U.S. economy. It is an important metric for economists and policymakers to understand the underlying data behind key economic indicators.
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 Index Source Base measures the base year that is used as the reference point for calculating various price indexes, such as the Consumer Price Index (CPI) and Producer Price Index (PPI). This provides important context for interpreting the levels and changes in these crucial economic indicators.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
The Index Source Base is used by analysts, policymakers, and institutions to assess the validity and comparability of price index data over time.
Key Facts
- The base year is the reference period for an index.
- The Index Source Base has changed several times, from 1967 to 1982 to 1984 and 1986.
- Switching the base year can impact the level and interpretation of price indexes.
FAQs
Q: What does this economic trend measure?
A: The Index Source Base measures the base year used for calculating various price indexes, such as the Consumer Price Index (CPI) and Producer Price Index (PPI), across the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The Index Source Base provides important context for interpreting and comparing key economic indicators like inflation, as the base year can impact the level and interpretation of these price indexes.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Index Source Base is used by analysts, policymakers, and institutions to assess the validity and comparability of price index data over time, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: There can be update delays, as the base year for price indexes is not changed frequently and may only be updated every few years by the Bureau of Labor Statistics.
Related Trends
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Colombia
COLCPGRSE01GYM
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Food and Non-Alcoholic Beverages for Colombia
COLCP010000GYQ
Number of Identified Exporters to Colombia from Utah
UTCOLA475SCEN
Value of Exports to Colombia from Utah
UTCOLA052SCEN
Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Other Deposit Takers for Colombia
COLFCRODDSPENUM
Business Tendency Surveys (Manufacturing): Order Books: Level: National Indicator for Colombia
COLBSOBLV02STM
Citation
U.S. Federal Reserve, Index Source Base (COLCP070000IXNBM), retrieved from FRED.