Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Costa Rica
CRICP110000GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.25
Year-over-Year Change
-1504.98%
Date Range
1/1/1996 - 12/1/2021
Summary
The Consumer Price Index (CPI) for Restaurants and Hotels in Costa Rica measures changes in the prices paid by consumers for restaurant, hotel, and other food service establishment services. This trend is a key indicator of inflation in the hospitality sector.
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 Restaurants and Hotels CPI is a component of the broader Consumer Price Index for Costa Rica, which tracks the average change in prices paid by consumers for a market basket of consumer goods and services. This subindex focuses specifically on the costs associated with dining out, accommodations, and other hospitality services.
Methodology
The data is collected through surveys of businesses in the restaurant, hotel, and related industries.
Historical Context
The Restaurants and Hotels CPI is used by policymakers, economists, and businesses to monitor price pressures and consumer spending patterns in the hospitality sector.
Key Facts
- The base year for the Restaurants and Hotels CPI in Costa Rica is 2019.
- This index is published monthly by the Central Bank of Costa Rica.
- The hospitality sector accounts for approximately 5% of Costa Rica's GDP.
FAQs
Q: What does this economic trend measure?
A: The Restaurants and Hotels CPI measures changes in the prices paid by consumers for restaurant, hotel, and other food service establishment services in Costa Rica.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of inflation in the hospitality sector, which is an important part of Costa Rica's economy. It provides insights into consumer spending patterns and price pressures faced by businesses in the restaurant, hotel, and related industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the restaurant, hotel, and related industries in Costa Rica.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels CPI is used by policymakers, economists, and businesses in Costa Rica to monitor price pressures and consumer spending patterns in the hospitality sector, which can inform economic policies and business decisions.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI is published monthly by the Central Bank of Costa Rica, with typical delays of 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Restaurants and Hotels for Costa Rica (CRICP110000GYM), retrieved from FRED.