Consumer Price Index: Food for Turkey
TURCPIFODMINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
209.55
Year-over-Year Change
11.00%
Date Range
1/1/1963 - 5/1/2018
Summary
The Consumer Price Index: Food for Turkey tracks changes in the prices of food items purchased by Turkish consumers. This key economic indicator is closely monitored by policymakers and analysts to understand 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 Consumer Price Index: Food for Turkey is a component of the broader Consumer Price Index, which measures the change in prices of a representative basket of goods and services. The food component provides insights into one of the most significant spending categories for Turkish households.
Methodology
The data is collected through nationwide surveys of consumer prices.
Historical Context
The food CPI is used to guide monetary policy and understand the overall cost-of-living trends in Turkey.
Key Facts
- Turkey's food CPI reached a record high in 2022.
- Food accounts for over 20% of the average Turkish household's budget.
- Rising food prices have been a key driver of Turkey's high overall inflation.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Food for Turkey measures the change in prices of food items purchased by Turkish consumers. It is a component of the broader Consumer Price Index.
Q: Why is this trend relevant for users or analysts?
A: The food CPI is a crucial indicator for understanding inflationary pressures and consumer spending patterns in Turkey, which is important for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through nationwide surveys of consumer prices.
Q: How is this trend used in economic policy?
A: The food CPI is used by the Turkish government and central bank to guide monetary policy and understand the overall cost-of-living trends in the country.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be occasional delays or revisions due to the complexity of data collection.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food for Turkey (TURCPIFODMINMEI), retrieved from FRED.