Price Level of Capital Formation for Nigeria
PLICPPNGA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.17
Year-over-Year Change
139.36%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Capital Formation for Nigeria is an economic indicator that measures the price changes of capital goods and investments in the Nigerian economy. It is a crucial metric for understanding inflation and investment 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
This index tracks the prices of a basket of capital goods, equipment, and construction materials used for investment purposes in Nigeria. It provides insights into the overall cost of capital formation and is an important metric for policymakers, investors, and economists analyzing the state of the Nigerian economy.
Methodology
The data is collected and calculated by the Nigerian National Bureau of Statistics based on a survey of prices for a representative sample of capital goods.
Historical Context
The Price Level of Capital Formation is used to assess the affordability and feasibility of investment projects, as well as to inform monetary and fiscal policies aimed at promoting economic growth.
Key Facts
- The base year for the Price Level of Capital Formation index is 2010.
- Nigeria's capital formation as a percentage of GDP was 15.2% in 2021.
- Prices of capital goods have risen by an average of 12% annually in Nigeria over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Capital Formation for Nigeria measures the changes in prices of capital goods, equipment, and construction materials used for investment purposes in the Nigerian economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the cost of capital formation and investment activity in Nigeria, which is vital for policymakers, investors, and economists analyzing the state of the Nigerian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Nigerian National Bureau of Statistics based on a survey of prices for a representative sample of capital goods.
Q: How is this trend used in economic policy?
A: The Price Level of Capital Formation is used to assess the affordability and feasibility of investment projects, as well as to inform monetary and fiscal policies aimed at promoting economic growth in Nigeria.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Nigerian National Bureau of Statistics, but there may be occasional delays or limitations in data availability.
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Citation
U.S. Federal Reserve, Price Level of Capital Formation for Nigeria (PLICPPNGA670NRUG), retrieved from FRED.