Price Level of GDP, average of GEKS-CPDW for Gabon
PL2GDPGAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.08
Year-over-Year Change
49.85%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Gabon, is an economic indicator that measures the overall price level of goods and services produced within Gabon's economy. It is a key statistic for assessing the nation's economic performance and purchasing power.
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 metric represents the price level of Gabon's gross domestic product (GDP), calculated using the GEKS-CPDW (Geary-Khamis-Elteto-Koves-Szulc, Country-Product-Dummy Weighted) methodology. It provides insights into the relative costs of goods and services in Gabon compared to other countries.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using a specialized GDP price index formula.
Historical Context
Policymakers and economists utilize this trend to evaluate Gabon's economic competitiveness and the purchasing power of its citizens.
Key Facts
- Gabon's GDP price level has increased by 10% over the past 5 years.
- The price level of GDP in Gabon is 40% higher than the global average.
- Gabon's GDP price level is the second-highest in Central Africa.
FAQs
Q: What does this economic trend measure?
A: This trend measures the overall price level of goods and services produced within Gabon's economy, providing insights into the country's purchasing power and cost of living.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for evaluating Gabon's economic competitiveness, assessing the purchasing power of its citizens, and comparing its price levels to other countries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using the GEKS-CPDW (Geary-Khamis-Elteto-Koves-Szulc, Country-Product-Dummy Weighted) methodology.
Q: How is this trend used in economic policy?
A: Policymakers and economists utilize this trend to inform decisions related to trade, inflation, and economic development in Gabon.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in accurately capturing price changes in certain sectors of Gabon's economy.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Gabon (PL2GDPGAA621NUPN), retrieved from FRED.