Price Level of GDP, average of GEKS-CPDW for Cote d`Ivoire
PL2GDPCIA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.83
Year-over-Year Change
7.38%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Cote d'Ivoire measures the overall price level of goods and services produced within the Ivorian economy. This metric is important for economists and policymakers to assess cost-of-living and international 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
This price index represents the relative cost of the basket of goods and services that make up the Gross Domestic Product (GDP) in Cote d'Ivoire, compared to a base year. It provides insights into the country's purchasing power and is used to adjust economic statistics for inflation.
Methodology
The data is calculated using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method applied to Cote d'Ivoire's national accounts.
Historical Context
Policymakers and analysts use this index to evaluate the Ivorian economy's performance and competitiveness in global trade.
Key Facts
- The base year for this index is 2017 = 100.
- Cote d'Ivoire is a major exporter of agricultural commodities like cocoa and coffee.
- This index can be used to compare purchasing power across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the overall price level of goods and services produced within the Ivorian economy, providing insights into the country's purchasing power and international competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This index is important for economists and policymakers to assess cost-of-living, evaluate the Ivorian economy's performance, and compare its competitiveness in global trade.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method applied to Cote d'Ivoire's national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to evaluate the Ivorian economy's performance and competitiveness in global trade, as well as to adjust economic statistics for inflation.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the national accounts information used to calculate this index.
Related Trends
Price Level of GDP, average of GEKS-CPDW for Central African Republic
PL2GDPCFA621NUPN
Price Level of Consumption for St. Lucia
PLOCONLCA622NUPN
Price Level of Investment for Germany
PLOINVDEA624NUPN
Price Level of GDP, average of GEKS-CPDW for Moldova
PL2GDPMDA621NUPN
Price Level of GDP, G-K method for Macao
PLOGDPMOA621NUPN
Price Level of Investment for Eritrea
PLOINVERA624NUPN
Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Cote d`Ivoire (PL2GDPCIA621NUPN), retrieved from FRED.