Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Denmark
DNKCP020000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.50
Year-over-Year Change
2.11%
Date Range
1/1/2000 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics (COICOP 02) measures the price changes of these goods and services in Denmark over time. This metric is closely watched by economists and policymakers to assess inflationary pressures and consumer spending patterns.
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 CPI for Alcoholic Beverages, Tobacco and Narcotics in Denmark tracks the retail prices of a basket of these products, including beer, wine, spirits, tobacco, and recreational drugs. This index is a key component of the overall CPI and provides insights into consumer behavior and the cost of living.
Methodology
The data is collected through surveys of retail establishments and calculated using a fixed-basket approach.
Historical Context
Policymakers and analysts use this CPI component to monitor inflation and consumer demand in specific sectors.
Key Facts
- The base year for the CPI is 2015.
- Alcoholic beverages, tobacco, and narcotics account for approximately 3% of the Danish consumer's expenditure basket.
- CPI data is released monthly by Statistics Denmark.
FAQs
Q: What does this economic trend measure?
A: This economic trend measures the price changes of alcoholic beverages, tobacco, and narcotics in Denmark over time as part of the overall Consumer Price Index (CPI).
Q: Why is this trend relevant for users or analysts?
A: This CPI component is relevant for assessing inflationary pressures, consumer spending patterns, and the cost of living in Denmark.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and calculated using a fixed-basket approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this CPI component to monitor inflation and consumer demand in the alcoholic beverages, tobacco, and narcotics sectors.
Q: Are there update delays or limitations?
A: CPI data is released monthly by Statistics Denmark with no significant update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Denmark (DNKCP020000IXNBM), retrieved from FRED.