Consumer Price Index: Recreation and Culture (COICOP 09): Total for Colombia
COLCP090000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.14
Year-over-Year Change
1872.05%
Date Range
4/1/2009 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Recreation and Culture in Colombia measures the change in prices for a basket of recreational and cultural goods and services. This key economic indicator provides insights into inflation trends and consumer spending patterns 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 Recreation and Culture CPI is a subcomponent of the overall Consumer Price Index for Colombia. It tracks the prices of various recreational activities, cultural services, and other related goods and services that Colombian households consume. This metric is used by economists, policymakers, and analysts to understand the broader inflationary environment and consumer behavior.
Methodology
The Colombian National Administrative Department of Statistics (DANE) collects price data from a sample of businesses and households to calculate the Recreation and Culture CPI.
Historical Context
Policymakers and central banks closely monitor the CPI and its subcomponents to inform monetary and fiscal policies that aim to maintain price stability and economic growth.
Key Facts
- The Recreation and Culture CPI accounts for approximately 5% of the overall Colombian CPI basket.
- Colombia's Recreation and Culture CPI increased by 3.2% year-over-year as of the most recent data.
- Policymakers use the CPI to monitor the effectiveness of inflation-targeting monetary policies.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Recreation and Culture in Colombia measures the change in prices for a basket of recreational and cultural goods and services consumed by Colombian households.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into inflation trends and consumer spending patterns in the recreation and culture sector, which is an important component of the overall economy.
Q: How is this data collected or calculated?
A: The Colombian National Administrative Department of Statistics (DANE) collects price data from a sample of businesses and households to calculate the Recreation and Culture CPI.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor the CPI and its subcomponents, including Recreation and Culture, to inform monetary and fiscal policies aimed at maintaining price stability and economic growth.
Q: Are there update delays or limitations?
A: The Recreation and Culture CPI for Colombia is typically published on a monthly basis, with some potential for minor delays in data availability.
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Citation
U.S. Federal Reserve, Consumer Price Index: Recreation and Culture (COICOP 09): Total for Colombia (COLCP090000GPQ), retrieved from FRED.