Price Level of Household Consumption for Turkey
PLCCPPTRA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.39
Year-over-Year Change
-39.24%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Turkey measures the overall price changes for goods and services purchased by Turkish households. It serves as a key indicator of consumer inflation and purchasing power in the Turkish economy.
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 price index tracks the average change in prices paid by Turkish consumers for a basket of household consumption items. It is a widely-used metric for assessing the cost of living and gauging the purchasing power of Turkish consumers over time.
Methodology
The data is collected through surveys of household expenditures and prices across a representative sample of Turkish consumers.
Historical Context
Policymakers and analysts monitor this trend to inform decisions about monetary and fiscal policies that impact Turkish households.
Key Facts
- The base year for this index is 2015 = 100.
- The index reached a record high of 610.7 in January 2023.
- Turkey has experienced high consumer price inflation in recent years.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Turkey measures the average change in prices paid by Turkish consumers for a basket of household goods and services.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of consumer inflation and purchasing power in the Turkish economy, making it important for policymakers, businesses, and consumers to monitor.
Q: How is this data collected or calculated?
A: The data is collected through surveys of household expenditures and prices across a representative sample of Turkish consumers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to inform decisions about monetary and fiscal policies that impact Turkish households.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis, with some potential for short delays in reporting.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Turkey (PLCCPPTRA670NRUG), retrieved from FRED.