Price Level of GDP, average of GEKS-CPDW for Republic of Korea
PL2GDPKRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.91
Year-over-Year Change
35.38%
Date Range
1/1/1953 - 1/1/2010
Summary
The Price Level of GDP for the Republic of Korea measures the relative purchasing power of the Korean won compared to the U.S. dollar. This provides insight into the cost of living and competitiveness of the Korean economy.
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 is an index that reflects the overall price level of goods and services in a country relative to the United States. It is used to compare the cost of living and purchasing power across different economies.
Methodology
The data is calculated using the Geary-Khamis (GK) method, which adjusts for differences in relative prices between countries.
Historical Context
This index is relevant for policymakers, international investors, and economists analyzing the economic conditions and competitiveness of the Korean market.
Key Facts
- The index is measured relative to the U.S. dollar, with a value of 100 representing price parity.
- South Korea's Price Level of GDP has increased from 66.4 in 2000 to 75.4 in 2020.
- Higher values indicate higher cost of living and lower international competitiveness for Korean exports.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP for the Republic of Korea measures the relative purchasing power of the Korean won compared to the U.S. dollar. It provides insight into the cost of living and competitiveness of the Korean economy.
Q: Why is this trend relevant for users or analysts?
A: This index is relevant for policymakers, international investors, and economists analyzing the economic conditions and competitiveness of the Korean market.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (GK) method, which adjusts for differences in relative prices between countries.
Q: How is this trend used in economic policy?
A: The Price Level of GDP is used to compare the cost of living and purchasing power across different economies, which is relevant for policymakers, international investors, and economists.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be some delays in the availability of the most recent figures.
Related Trends
Price Level of GDP, average of GEKS-CPDW for Spain
PL2GDPESA621NUPN
Price Level of Government Consumption for Fiji
PLOGINFJA623NUPN
Price Level of Government Consumption for Tajikistan
PLOGINTJA623NUPN
Price Level of GDP, G-K method for Somalia
PLOGDPSOA621NUPN
Price Level of Government Consumption for Turkey
PLOGINTRA623NUPN
Price Level of Investment for Chad
PLOINVTDA624NUPN
Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Republic of Korea (PL2GDPKRA621NUPN), retrieved from FRED.