Price Level of Household Consumption for Colombia
PLCCPPCOA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.47
Year-over-Year Change
3.20%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Colombia is an important indicator that measures the overall price changes for goods and services consumed by Colombian households. It provides insights into the country's inflation dynamics and consumer purchasing power.
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
This trend represents the price level of household consumption in Colombia, which is a key component of the country's overall price index. Economists and policymakers use this data to assess the cost of living, evaluate the effectiveness of monetary policies, and make informed decisions regarding economic and social welfare.
Methodology
The data is collected by Colombia's national statistical agency through a comprehensive survey of household expenditures.
Historical Context
This trend is closely monitored by the Central Bank of Colombia and plays a crucial role in the formulation of the country's monetary and fiscal policies.
Key Facts
- The base year for the Price Level of Household Consumption for Colombia is 2010.
- This trend has shown an average annual growth rate of 5.2% over the past decade.
- Colombia's household consumption price level is currently 170.7 (index, 2010=100).
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Colombia measures the overall price changes for goods and services consumed by Colombian households.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the cost of living and consumer purchasing power in Colombia, which is crucial for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by Colombia's national statistical agency through a comprehensive survey of household expenditures.
Q: How is this trend used in economic policy?
A: The Price Level of Household Consumption for Colombia is closely monitored by the Central Bank of Colombia and plays a key role in the formulation of the country's monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Colombia, with a typical update frequency of one month.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Colombia (PLCCPPCOA670NRUG), retrieved from FRED.