Price Level of GDP, average of GEKS-CPDW for Lithuania
PL2GDPLTA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.43
Year-over-Year Change
42.53%
Date Range
1/1/1993 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Lithuania measures the price level of the country's gross domestic product using a multilateral index. This provides important insights into Lithuania's economic performance 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 price level of GDP in Lithuania, calculated using the GEKS-CPDW methodology, which combines multilateral and bilateral comparisons to create a consistent set of international price level comparisons. It serves as a key indicator for assessing the country's economic competitiveness and cost of living relative to other nations.
Methodology
The data is collected and calculated by the OECD using national accounts and other official statistics.
Historical Context
Policymakers and analysts use this index to evaluate Lithuania's economic conditions and international trade competitiveness.
Key Facts
- Lithuania's GDP price level was 57.7% of the U.S. level in 2020.
- The price level has increased by 10 percentage points since 2010.
- Lithuania's relative price level is lower than the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of Lithuania's gross domestic product (GDP) using the GEKS-CPDW multilateral index method, which allows for international price level comparisons.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Lithuania's economic competitiveness and cost of living relative to other countries, which is valuable information for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the OECD using national accounts and other official statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to evaluate Lithuania's economic conditions and international trade competitiveness, which can inform decisions on trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be available. Additionally, the GEKS-CPDW methodology may have limitations in capturing certain price dynamics.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Lithuania (PL2GDPLTA621NUPN), retrieved from FRED.