Price Level of GDP, average of GEKS-CPDW for Guinea-Bissau
PL2GDPGWA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53.35
Year-over-Year Change
9.91%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Guinea-Bissau measures the relative purchasing power of the national currency within Guinea-Bissau. This indicator is important for economists and policymakers to assess the country's economic competitiveness 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 series represents the relative price level of the Gross Domestic Product (GDP) in Guinea-Bissau compared to a reference group of countries. It is calculated using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method and the Country-Product-Dummy (CPD) weighting scheme, which allows for international price and volume comparisons.
Methodology
The data is collected and calculated by the World Bank as part of the International Comparison Program.
Historical Context
Policymakers and analysts use this measure to evaluate Guinea-Bissau's economic performance and competitiveness within the region.
Key Facts
- Guinea-Bissau's price level was 62.1% of the global average in 2021.
- The GEKS-CPDW method allows for robust international price and volume comparisons.
- This indicator is used to assess a country's economic competitiveness and cost of living.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price level of the Gross Domestic Product (GDP) in Guinea-Bissau compared to a reference group of countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for economists and policymakers to assess Guinea-Bissau's economic competitiveness and cost of living within the region.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank as part of the International Comparison Program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this measure to evaluate Guinea-Bissau's economic performance and competitiveness within the region.
Q: Are there update delays or limitations?
A: The data is published regularly by the World Bank, but there may be delays in data availability.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Guinea-Bissau (PL2GDPGWA621NUPN), retrieved from FRED.