Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Canada
Monthly
CPGREN01CAM657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.89
Year-over-Year Change
24.89%
Date Range
2/1/1961 - 11/1/2023
Summary
The Consumer Price Index for All Urban Consumers: Gasoline (All Types) in the West Region (CPGREN01CAM657N) tracks changes in the price of gasoline across western U.S. states. It is a key measure of consumer inflation and economic activity.
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 Gasoline CPI for the West region is a crucial indicator of cost-of-living trends and consumer sentiment. It provides insights into the purchasing power of households and can inform policy decisions on energy prices and subsidies.
Methodology
The data is collected through surveys of retail establishments and service stations to calculate the average price paid by consumers for gasoline in the West.
Historical Context
This gasoline price index is widely used by economists, policymakers, and market analysts to assess the broader state of the U.S. economy.
Key Facts
- Gasoline accounts for a significant portion of household budgets.
- The West region represents a major consumer market for gasoline.
- Fluctuations in this index can signal broader economic trends.
FAQs
Q: What does this economic trend measure?
A: This index tracks the average price paid by consumers for gasoline in the western United States.
Q: Why is this trend relevant for users or analysts?
A: Gasoline prices are a key component of consumer inflation and a barometer of economic activity, making this index highly relevant for policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and service stations to calculate the average price paid by consumers for gasoline in the West region.
Q: How is this trend used in economic policy?
A: This gasoline price index is widely used by economists and policymakers to assess the broader state of the U.S. economy and inform decisions on energy policy, subsidies, and consumer-focused initiatives.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a brief delay, providing timely information on gasoline price trends in the West region.
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Citation
U.S. Federal Reserve, Consumer Price Index for All Urban Consumers: Gasoline (All Types) in West Region (CPGREN01CAM657N), retrieved from FRED.