Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for United States
USACP020000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.66
Year-over-Year Change
103.08%
Date Range
4/1/2010 - 10/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics (COICOP 02) measures changes in the prices paid by consumers for these goods in the United States. This index is a key indicator of inflationary pressures in this consumer spending category.
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 COICOP 02 CPI tracks the overall price level for a basket of alcoholic beverages, tobacco products, and narcotics purchased by U.S. households. It is an important metric for understanding consumer spending patterns and monitoring the impact of policies and market conditions on this segment of the economy.
Methodology
The data is collected through surveys of prices paid by consumers at retail establishments across the country.
Historical Context
Policymakers and economists analyze this CPI component to assess its contribution to overall inflation and gauge consumer behavior.
Key Facts
- The COICOP 02 CPI has a base year of 2015.
- Alcoholic beverages have the largest weight in this index at around 60%.
- Tobacco and narcotics comprise the remaining 40% of the COICOP 02 basket.
FAQs
Q: What does this economic trend measure?
A: The COICOP 02 CPI measures changes in the prices paid by U.S. consumers for a basket of alcoholic beverages, tobacco products, and narcotics.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of inflationary pressures in a key consumer spending category, providing insights into market conditions and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected through surveys of prices paid by consumers at retail establishments across the United States.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this CPI component to assess its contribution to overall inflation and gauge consumer behavior, which informs policy decisions.
Q: Are there update delays or limitations?
A: The COICOP 02 CPI is published monthly with a typical 1-month lag, and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for United States (USACP020000GPQ), retrieved from FRED.