Price Level of GDP, average of GEKS-CPDW for Albania
PL2GDPALA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55.56
Year-over-Year Change
59.36%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Albania measures the relative purchasing power of the Albanian currency compared to the U.S. dollar. It is an important economic indicator for understanding cross-country price differences and comparisons.
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 trend represents the price level of gross domestic product (GDP) in Albania, calculated using the GEKS-CPDW method. It allows for international comparisons of living standards and economic productivity by adjusting for differences in national price levels.
Methodology
The data is collected and calculated by the World Bank using household consumption and expenditure surveys.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic performance and living standards across countries.
Key Facts
- Albania's price level of GDP was 36.72 in 2021.
- The price level is benchmarked to the U.S. dollar, which has a value of 100.
- Higher price levels indicate a higher cost of living in a country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price level of GDP in Albania compared to the United States. It reflects the purchasing power of the Albanian currency.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for meaningful cross-country comparisons of living standards, productivity, and economic performance by accounting for differences in national price levels.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using household consumption and expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers, international organizations, and economists use this metric to assess economic performance and living standards across countries.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be delays in reporting from some countries.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Albania (PL2GDPALA621NUPN), retrieved from FRED.