Price Level of GDP, average of GEKS-CPDW for Ghana
PL2GDPGHA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.84
Year-over-Year Change
1.68%
Date Range
1/1/1955 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Ghana measures the general price level of goods and services produced within the Ghanaian economy. This indicator is useful for economists and policymakers to assess Ghana's economic performance 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 Ghana is an index that captures the overall price level of domestically produced goods and services in the country. It is calculated using the Gini-Éltetö-Köves-Szulc (GEKS) method applied to the Comparable Price Data for the World (CPDW) dataset.
Methodology
The data is calculated based on price and expenditure information collected by Ghana's national statistical agency.
Historical Context
This price level index is used by economists, international institutions, and policymakers to gauge Ghana's economic competitiveness and purchasing power.
Key Facts
- Ghana's GDP price level was 62.1 in 2021.
- The price level index is normalized to the U.S. level of 100.
- Tracking the GDP price level helps assess Ghana's economic performance.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Ghana measures the overall price level of goods and services produced within the Ghanaian economy.
Q: Why is this trend relevant for users or analysts?
A: This price level index is useful for evaluating Ghana's economic competitiveness and purchasing power relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated based on price and expenditure information collected by Ghana's national statistical agency.
Q: How is this trend used in economic policy?
A: Economists, international institutions, and policymakers use this price level index to assess Ghana's economic performance and competitiveness.
Q: Are there update delays or limitations?
A: The data may have a delay of several months before being published due to the time required for data collection and calculation.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Ghana (PL2GDPGHA621NUPN), retrieved from FRED.