Nonprescription Drugs Expenditures Price Index
This dataset tracks nonprescription drugs expenditures price index over time.
Latest Value
98.42
Year-over-Year Change
-4.36%
Date Range
1/1/2000 - 1/1/2021
Summary
The Nonprescription Drugs Expenditures Price Index measures changes in the prices of over-the-counter medications and health products. This data is important for tracking consumer price trends and informing economic policy.
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 Nonprescription Drugs Expenditures Price Index is a component of the Personal Consumption Expenditures (PCE) price index, one of the key measures of inflation tracked by the Federal Reserve. It provides insights into price changes for a crucial consumer goods segment.
Methodology
The data is collected through household surveys by the Bureau of Economic Analysis.
Historical Context
This index is used by policymakers, analysts, and businesses to understand consumer spending patterns and inflationary pressures.
Key Facts
- The index has a base year of 2012 = 100.
- Over-the-counter drugs make up about 1.4% of total personal consumption expenditures.
- Prices for nonprescription drugs have risen at a slower rate than overall inflation since 2000.
FAQs
Q: What does this economic trend measure?
A: The Nonprescription Drugs Expenditures Price Index measures changes in the prices of over-the-counter medications, vitamins, and other health-related consumer products.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into consumer spending patterns and inflationary pressures in a key segment of the economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: The Nonprescription Drugs Expenditures Price Index is used by the Federal Reserve and other policymakers to monitor consumer price inflation and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The index is updated monthly with a typical 1-2 month delay, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Nonprescription Drugs Expenditures Price Index (NONDRGPIHCSA), retrieved from FRED.