Price Level of GDP, average of GEKS-CPDW for Marshall Islands
PL2GDPMHA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.00
Year-over-Year Change
-8.83%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Marshall Islands measures the price level of goods and services produced within the Marshall Islands economy. This metric is important for economists and policymakers to assess the purchasing power and cost of living in the country.
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 Marshall Islands is an index that tracks the overall price level of the goods and services that make up the Gross Domestic Product (GDP) of the Marshall Islands. It is used to compare the cost of living and purchasing power between the Marshall Islands and other economies.
Methodology
The data is calculated by the U.S. Federal Reserve using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method and the Consumption Purchasing Power Disparity Weighted (CPDW) approach.
Historical Context
This economic trend is relevant for policymakers, analysts, and businesses to understand the cost of doing business and the standard of living in the Marshall Islands.
Key Facts
- The base year for the index is 2017.
- The index measures the cost of the same basket of goods and services in the Marshall Islands compared to the United States.
- A value above 100 indicates prices are higher in the Marshall Islands than the U.S.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Marshall Islands measures the overall price level of goods and services produced within the Marshall Islands economy compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the purchasing power and cost of living in the Marshall Islands, which is relevant for policymakers, businesses, and individuals comparing economic conditions between the two countries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using the Geary-Khamis-Elteto-Koves-Szulc (GEKS) method and the Consumption Purchasing Power Disparity Weighted (CPDW) approach.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to assess the cost of living, competitiveness, and standard of living in the Marshall Islands compared to other economies.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve with a time lag, and may have limitations in coverage or methodological changes over time.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Marshall Islands (PL2GDPMHA621NUPN), retrieved from FRED.