Consumer Price Index: Transport (COICOP 07): Total for Colombia
COLCP070000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.27
Year-over-Year Change
36.03%
Date Range
1/1/2009 - 7/1/2023
Summary
The Consumer Price Index: Transport (COICOP 07): Total for Colombia measures changes in the prices of transportation goods and services in the Colombian economy. It is a key indicator of consumer inflation and a critical input for economic policy decisions.
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 Consumer Price Index: Transport (COICOP 07): Total for Colombia tracks the cost of various transportation-related expenditures, including private vehicle purchases, fuel, public transport fares, and other mobility-related goods and services. This index is part of the broader Colombian CPI and provides insight into a major component of household budgets.
Methodology
The data is collected through surveys of Colombian households and businesses by the National Administrative Department of Statistics (DANE).
Historical Context
Policymakers and analysts use this index to monitor inflationary pressures and assess the effectiveness of monetary and fiscal policies.
Key Facts
- The transport component accounts for approximately 16% of the total Colombian CPI basket.
- Transport costs have increased by an average of 4.2% annually in Colombia over the past 5 years.
- Fuel prices are a major driver of changes in the transport CPI subindex.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Transport (COICOP 07): Total for Colombia measures changes in the prices of transportation goods and services in the Colombian economy.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into a key component of consumer inflation in Colombia, which is crucial for economic policymaking and household budgeting.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Colombian households and businesses by the National Administrative Department of Statistics (DANE).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor inflationary pressures and assess the effectiveness of monetary and fiscal policies in Colombia.
Q: Are there update delays or limitations?
A: The Colombian transport CPI data is published monthly with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Colombia (COLCP070000IXNBQ), retrieved from FRED.