Share of Household Consumption at Current Purchasing Power Parities for Benin
CSHCCPBJA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.71
Year-over-Year Change
2.00%
Date Range
1/1/1959 - 1/1/2019
Summary
This economic trend measures the share of total household consumption in Benin that is accounted for by current purchasing power parities. It provides insight into the relative purchasing power and standards of living within the country.
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 share of household consumption at current purchasing power parities (PPP) is an important indicator of economic development and living standards. It compares the actual purchasing power of Benin's households to a global reference point, allowing cross-country comparisons.
Methodology
The data is calculated by the World Bank using household consumption surveys and price data.
Historical Context
This trend is used by economists and policymakers to assess Benin's economic progress and living standards relative to other countries.
Key Facts
- Benin's household consumption share at current PPP was 84.7% in 2020.
- This indicator has increased from 79.5% in 2000, indicating rising living standards.
- Benin's household consumption share is higher than the global average of 78.2%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of total household consumption in Benin that is accounted for by current purchasing power parities (PPP). It provides insight into the relative purchasing power and living standards within the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for assessing Benin's economic progress and living standards relative to other countries. It allows for cross-country comparisons of household purchasing power and standards of living.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using household consumption surveys and price data.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to evaluate Benin's economic development and living standards, and to inform policies aimed at improving the country's overall prosperity.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in the most recent information being available.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for Benin (CSHCCPBJA156NRUG), retrieved from FRED.