Price Level of GDP, average of GEKS-CPDW for Barbados
PL2GDPBBA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.35
Year-over-Year Change
12.50%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Barbados measures the general price level of goods and services produced in the Barbadian economy. This metric is important for economists and policymakers to assess the country's inflation and cost of living.
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 economic trend represents the price level of GDP in Barbados, calculated using the Geary-Khamis-Elteto-Koves-Szulc-Chained Purchasing Power Parity Weighted (GEKS-CPDW) index. It provides a comprehensive measure of the overall price changes in the Barbadian economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on national accounts and price information.
Historical Context
Policymakers and analysts use this metric to gauge inflationary pressures and make informed decisions about monetary and fiscal policies.
Key Facts
- Barbados' GDP price level was 62.1 in 2021.
- The GEKS-CPDW index measures price changes in a country's total output.
- This metric is used to compare the cost of living across countries.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Barbados measures the general price level of goods and services produced in the Barbadian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for economists and policymakers to assess the country's inflation and cost of living, which informs decision-making about monetary and fiscal policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on national accounts and price information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge inflationary pressures and make informed decisions about monetary and fiscal policies in Barbados.
Q: Are there update delays or limitations?
A: The data is subject to the timely release of national accounts and price information by the Barbadian statistical agencies.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Barbados (PL2GDPBBA621NUPN), retrieved from FRED.