Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Colombia
COLCPGRSE01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.85
Year-over-Year Change
-17.54%
Date Range
1/1/1996 - 4/1/2025
Summary
The Consumer Price Index (CPI) for Services in Colombia measures the change in prices paid by consumers for a basket of services, providing insight into inflation trends and consumer purchasing power.
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 CPI for Services in Colombia is a key economic indicator that tracks the prices of various service categories, such as housing, utilities, transportation, and recreation. It is used to assess the cost of living and measure the effectiveness of economic policies.
Methodology
The data is collected through surveys of households and businesses, and the index is calculated using a weighted average of the prices for different service categories.
Historical Context
The CPI for Services is closely monitored by the Colombian government and central bank to inform monetary and fiscal policy decisions.
Key Facts
- The base year for the Colombia CPI Services index is 2013.
- Services account for a significant portion of consumer spending in Colombia.
- The CPI for Services is a key input for the central bank's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The CPI for Services in Colombia measures the change in prices paid by consumers for a basket of service categories, such as housing, utilities, transportation, and recreation.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Services is a crucial indicator of inflation and consumer purchasing power, and it is closely monitored by policymakers to inform economic decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses, and the index is calculated using a weighted average of the prices for different service categories.
Q: How is this trend used in economic policy?
A: The CPI for Services is a key input for the Colombian central bank's monetary policy decisions, as it helps assess the cost of living and the effectiveness of economic policies.
Q: Are there update delays or limitations?
A: The CPI for Services data is typically published on a monthly basis, with a short delay to allow for data collection and analysis.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services for Colombia (COLCPGRSE01GYM), retrieved from FRED.