Consumer Price Index for Senegal
DDOE02SNA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.87
Year-over-Year Change
22.70%
Date Range
1/1/1967 - 1/1/2017
Summary
The Consumer Price Index for Senegal measures the changes in the prices of a basket of consumer goods and services over time. It is a key indicator of inflation and a critical metric for policymakers in assessing the state of the Senegalese economy.
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 Consumer Price Index (CPI) for Senegal tracks the cost of a representative sample of consumer items, including food, housing, transportation, and other daily expenses. It is used to monitor changes in the overall price level and inform monetary and fiscal policies aimed at maintaining price stability.
Methodology
The Senegalese National Agency of Statistics and Demography collects price data from a variety of retail outlets to calculate the CPI.
Historical Context
The CPI is closely watched by the Central Bank of West African States and the Government of Senegal to guide macroeconomic decision-making.
Key Facts
- The base year for the Senegalese CPI is 2014.
- Senegal's CPI reached a record high of 115.4 in August 2022.
- Food and non-alcoholic beverages account for the largest share of the Senegalese CPI basket.
FAQs
Q: What does the Consumer Price Index for Senegal measure?
A: The Senegalese CPI measures the changes in the prices of a basket of consumer goods and services purchased by households in Senegal.
Q: Why is the Senegalese CPI relevant for users or analysts?
A: The CPI is a key indicator of inflation in Senegal, providing valuable insights into the cost of living and the purchasing power of consumers. It is closely monitored by policymakers, businesses, and consumers.
Q: How is the Senegalese CPI data collected or calculated?
A: The Senegalese National Agency of Statistics and Demography collects price data from a sample of retail outlets to calculate the CPI.
Q: How is the Senegalese CPI used in economic policy?
A: The CPI is a critical input for the Central Bank of West African States and the Government of Senegal in formulating monetary and fiscal policies aimed at maintaining price stability and supporting economic growth.
Q: Are there any update delays or limitations with the Senegalese CPI data?
A: The Senegalese CPI data is typically published on a monthly basis, with a short lag. While the data is generally reliable, there may be some limitations in coverage or sampling that users should be aware of.
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Citation
U.S. Federal Reserve, Consumer Price Index for Senegal (DDOE02SNA086NWDB), retrieved from FRED.