Consumer Price Index: Communication (COICOP 08): Total for Colombia
COLCP080000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.71
Year-over-Year Change
0.37%
Date Range
12/1/2008 - 11/1/2023
Summary
The Consumer Price Index (CPI) for Communication in Colombia measures changes in the prices of a basket of communication goods and services, providing insights into the cost of living and inflation trends.
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 Communication CPI is a subindex of the overall Colombian CPI, which tracks the prices paid by consumers for a representative basket of goods and services. This metric is closely monitored by policymakers and economists to assess inflationary pressures and guide monetary policy decisions.
Methodology
The data is collected through surveys of retail establishments and service providers across Colombia.
Historical Context
The Communication CPI is a key input for the Central Bank of Colombia in setting interest rates and managing inflation targets.
Key Facts
- The Communication CPI has a base year of 2018 = 100.
- Communication accounts for around 3.5% of the total Colombian CPI basket.
- Prices for communication goods and services have risen by an average of 4.2% annually in Colombia over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI measures changes in the prices of a basket of communication goods and services, including telephone and internet access, as well as other communication-related expenditures.
Q: Why is this trend relevant for users or analysts?
A: The Communication CPI is an important indicator of inflationary pressures and the cost of living in Colombia, providing insights for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and service providers across Colombia and aggregated to calculate the Communication CPI subindex.
Q: How is this trend used in economic policy?
A: The Communication CPI is a key input for the Central Bank of Colombia in setting interest rates and managing inflation targets to maintain price stability and support economic growth.
Q: Are there update delays or limitations?
A: The Communication CPI data is published monthly by the Central Bank of Colombia, with a typical release lag of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Colombia (COLCP080000IXNBM), retrieved from FRED.