Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for United States
USACP010000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
129.55
Year-over-Year Change
1.17%
Date Range
1/1/1960 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages measures changes in the prices paid by consumers for a basket of food and beverage items. This index is a crucial economic indicator for assessing inflation and the cost of living.
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 Food and Non-Alcoholic Beverages CPI is a component of the overall CPI, which tracks the prices of a comprehensive basket of consumer goods and services. The food and beverage index is used by economists, policymakers, and the public to understand trends in the costs of essential household expenditures.
Methodology
The U.S. Bureau of Labor Statistics collects price data from retail outlets and service establishments to calculate the Food and Non-Alcoholic Beverages CPI.
Historical Context
The Federal Reserve and other policymakers closely monitor the Food and Non-Alcoholic Beverages CPI to inform monetary policy decisions and assess the broader inflationary environment.
Key Facts
- The Food and Non-Alcoholic Beverages CPI is published monthly by the U.S. Bureau of Labor Statistics.
- This index accounts for about 15% of the overall Consumer Price Index.
- Food prices can be a significant driver of overall inflation due to their share of household budgets.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages measures changes in the prices paid by consumers for a basket of food and beverage items.
Q: Why is this trend relevant for users or analysts?
A: The Food and Non-Alcoholic Beverages CPI is a crucial indicator for assessing inflation and the cost of living, as food and beverages are essential household expenditures.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects price data from retail outlets and service establishments to calculate the Food and Non-Alcoholic Beverages CPI.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other policymakers closely monitor the Food and Non-Alcoholic Beverages CPI to inform monetary policy decisions and assess the broader inflationary environment.
Q: Are there update delays or limitations?
A: The Food and Non-Alcoholic Beverages CPI is published monthly by the U.S. Bureau of Labor Statistics, with minimal update delays.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for United States (USACP010000IXNBM), retrieved from FRED.