Consumer Price Index: Health (COICOP 06): Total for Russia
RUSCP060000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.09
Year-over-Year Change
37.79%
Date Range
4/1/2004 - 10/1/2021
Summary
The Consumer Price Index: Health (COICOP 06): Total for Russia measures the overall price changes for health-related goods and services in Russia. This key economic indicator helps policymakers and analysts understand consumer inflation and cost-of-living 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 Consumer Price Index (CPI) is a widely-used measure of inflation that tracks the average change over time in the prices paid by consumers for a basket of goods and services. The Health (COICOP 06) component specifically focuses on health-related costs, including medical care, pharmaceutical products, and other health-related expenditures.
Methodology
The Russian Federal State Statistics Service collects detailed price data across the country to calculate this CPI index.
Historical Context
Central banks and finance ministries rely on CPI data to inform monetary and fiscal policy decisions.
Key Facts
- Russia's health CPI reached a record high in 2022.
- Health costs make up about 6% of the overall Russian CPI basket.
- The health CPI has risen faster than the overall CPI in recent years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Health (COICOP 06): Total for Russia measures changes in the prices of healthcare goods and services purchased by Russian consumers.
Q: Why is this trend relevant for users or analysts?
A: This health-focused CPI is a crucial indicator for understanding inflationary pressures and cost-of-living changes in Russia, especially as they relate to medical care, pharmaceuticals, and other healthcare expenditures.
Q: How is this data collected or calculated?
A: The Russian Federal State Statistics Service collects detailed price data from across the country to calculate this CPI index.
Q: How is this trend used in economic policy?
A: Central banks and finance ministries rely on CPI data like this health component to inform monetary and fiscal policy decisions aimed at managing inflation.
Q: Are there update delays or limitations?
A: The health CPI for Russia is published monthly with a short delay, providing timely data for policymakers and analysts.
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Citation
U.S. Federal Reserve, Consumer Price Index: Health (COICOP 06): Total for Russia (RUSCP060000GPQ), retrieved from FRED.