Price Level of GDP, average of GEKS-CPDW for Colombia
PL2GDPCOA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.75
Year-over-Year Change
16.20%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Colombia, is an economic indicator that measures the general price level of goods and services produced within the Colombian economy. It provides insights into the country's overall price dynamics 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
This trend represents the price level of Colombia's gross domestic product (GDP), calculated using the Geary-Khamis-Elteto-Koves-Szulc (GEKS-CPDW) method. It serves as a comprehensive measure of the cost of living and production in the Colombian economy, enabling cross-country and intertemporal price comparisons.
Methodology
The data is collected and calculated by the World Bank using national accounts and price survey information.
Historical Context
This trend is used by economists, policymakers, and international organizations to assess Colombia's economic performance and competitiveness relative to other countries.
Key Facts
- The base year for this series is 2017.
- Colombia's price level of GDP was 78.47 in 2021.
- This trend is published annually by the World Bank.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Colombia measures the general price level of goods and services produced within the Colombian economy.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Colombia's overall price dynamics and competitiveness, enabling cross-country and intertemporal price comparisons.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and price survey information.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to assess Colombia's economic performance and competitiveness relative to other countries.
Q: Are there update delays or limitations?
A: This trend is published annually by the World Bank.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Colombia (PL2GDPCOA621NUPN), retrieved from FRED.