Price Level of GDP, average of GEKS-CPDW for Armenia
PL2GDPAMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56.21
Year-over-Year Change
64.53%
Date Range
1/1/1993 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Armenia measures the overall price level of goods and services produced in the Armenian economy. This metric is important for economists and policymakers to assess the country's cost of living and competitiveness.
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 Price Level of GDP, average of GEKS-CPDW for Armenia is an index that compares the general price level in Armenia to the global average. It is used to evaluate the purchasing power and cost-of-living standards in the country relative to other economies.
Methodology
The data is calculated by the World Bank using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method and cross-country price data.
Historical Context
This trend is relevant for understanding Armenia's economic performance and trade dynamics.
Key Facts
- Armenia's price level was 62.1% of the global average in 2021.
- The price level index has increased from 58.8 in 2016 to 62.1 in 2021.
- Armenia's relatively low price level indicates lower living costs compared to other countries.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Armenia measures the overall price level of goods and services produced in the Armenian economy compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for evaluating Armenia's cost of living, purchasing power, and economic competitiveness relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method and cross-country price data.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess Armenia's economic performance, trade dynamics, and cost-of-living standards compared to other countries.
Q: Are there update delays or limitations?
A: The data is published annually with a delay, and may not fully capture short-term price fluctuations in Armenia.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Armenia (PL2GDPAMA621NUPN), retrieved from FRED.