National Accounts: National Accounts Deflators: Private Consumption Expenditure Deflator: Implicit Price Deflator Total for Colombia
COLNAGICE01IXOBSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
160.51
Year-over-Year Change
32.81%
Date Range
1/1/2005 - 7/1/2023
Summary
The Private Consumption Expenditure Deflator for Colombia measures changes in the prices of goods and services purchased by Colombian consumers. It is a key indicator of consumer inflation and 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 Private Consumption Expenditure Deflator is a price index that tracks the prices of final consumer goods and services in Colombia. It is used to adjust national accounts data for inflation, enabling analysis of real economic growth and consumption patterns.
Methodology
The data is calculated by Colombia's National Administrative Department of Statistics based on surveys of household expenditures.
Historical Context
This deflator is closely monitored by the Central Bank of Colombia and other policymakers to guide monetary and fiscal policy decisions.
Key Facts
- The base year for the deflator is 2015.
- The deflator covers all private consumption expenditures, including durable and non-durable goods and services.
- The deflator is used to calculate real GDP growth in Colombia.
FAQs
Q: What does this economic trend measure?
A: The Private Consumption Expenditure Deflator for Colombia measures changes in the prices of goods and services purchased by Colombian consumers.
Q: Why is this trend relevant for users or analysts?
A: The deflator is a key indicator of consumer inflation and purchasing power in Colombia, which is crucial for analyzing real economic growth and consumption patterns.
Q: How is this data collected or calculated?
A: The data is calculated by Colombia's National Administrative Department of Statistics based on surveys of household expenditures.
Q: How is this trend used in economic policy?
A: The Private Consumption Expenditure Deflator is closely monitored by the Central Bank of Colombia and other policymakers to guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule with no known significant delays or limitations.
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Citation
U.S. Federal Reserve, National Accounts: National Accounts Deflators: Private Consumption Expenditure Deflator: Implicit Price Deflator Total for Colombia (COLNAGICE01IXOBSAQ), retrieved from FRED.