Price Level of GDP, average of GEKS-CPDW for Mongolia
PL2GDPMNA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.94
Year-over-Year Change
62.48%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Mongolia, measures the overall price level of goods and services in the Mongolian economy. This trend is a key indicator used by economists and policymakers to assess the country's economic conditions and inflation.
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 Mongolia represents the general price level of all final goods and services produced within the Mongolian economy. It is calculated using the Geary-Khamis-Eltető-Köves-Szulc (GEKS) method, which produces international and inter-temporal price level comparisons.
Methodology
The data is collected by the Mongolian Statistical Office and calculated according to international guidelines.
Historical Context
This trend is used by the Mongolian government, central bank, and international institutions to monitor and manage the country's economic policies and performance.
Key Facts
- Mongolia's Price Level of GDP was 0.501 in 2020.
- The trend has increased by 24% since 2010.
- Mongolia's price level is lower than the global average.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Mongolia measures the overall price level of goods and services produced within the Mongolian economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator used by economists and policymakers to assess Mongolia's economic conditions and inflation, which is crucial for informed decision-making and policy formulation.
Q: How is this data collected or calculated?
A: The data is collected by the Mongolian Statistical Office and calculated according to the Geary-Khamis-Eltető-Köves-Szulc (GEKS) method.
Q: How is this trend used in economic policy?
A: The Price Level of GDP for Mongolia is used by the government, central bank, and international institutions to monitor and manage the country's economic policies and performance.
Q: Are there update delays or limitations?
A: The data is published with a delay, and the methodology may have limitations in capturing all aspects of the Mongolian economy.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Mongolia (PL2GDPMNA621NUPN), retrieved from FRED.