Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Denmark
DNKCP020000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.88
Year-over-Year Change
73.47%
Date Range
2/1/2000 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Denmark measures the changes in prices of these consumer goods over time. This key economic indicator provides insights into consumer spending and inflation trends.
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 COICOP 02 CPI for Denmark tracks the price changes of alcoholic drinks, tobacco products, and narcotics as part of the overall cost of living. This metric is widely used by economists and policymakers to analyze consumer behavior and assess the impact of these products on the Danish economy.
Methodology
The data is collected through a national survey of consumer prices and calculated as an index by Statistics Denmark.
Historical Context
The CPI for Alcoholic Beverages, Tobacco and Narcotics is an important input for monetary policy decisions and analysis of consumer spending patterns.
Key Facts
- Denmark's CPI for Alcoholic Beverages, Tobacco and Narcotics has a base year of 2015.
- The index reached a high of 105.4 in January 2022.
- This CPI category accounts for around 2.5% of the total Danish consumer price index.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Denmark measures the changes in prices of these consumer goods over time.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending and inflation trends, which are crucial for economic policymaking and market analysis.
Q: How is this data collected or calculated?
A: The data is collected through a national survey of consumer prices and calculated as an index by Statistics Denmark.
Q: How is this trend used in economic policy?
A: The CPI for Alcoholic Beverages, Tobacco and Narcotics is an important input for monetary policy decisions and analysis of consumer spending patterns.
Q: Are there update delays or limitations?
A: The data is published monthly by Statistics Denmark with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Denmark (DNKCP020000GPM), retrieved from FRED.