Price Level of GDP, average of GEKS-CPDW for Oman
PL2GDPOMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.40
Year-over-Year Change
19.38%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Oman measures the overall price level of the Omani economy. It is a key metric for assessing 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
This trend represents the price level of the Omani GDP, calculated using the Geary-Khamis method and based on a cross-country purchasing power parity comparison. It provides a standardized measure for evaluating economic output and consumption across different countries.
Methodology
The data is calculated by the U.S. Federal Reserve based on national accounts and price data.
Historical Context
Economists and policymakers use this metric to analyze Oman's economic competitiveness and living standards relative to other nations.
Key Facts
- Oman's GDP price level was 62.1 in 2021 (U.S. = 100)
- Purchasing power is lower in Oman than the U.S. average
- The price level has remained relatively stable in recent years
FAQs
Q: What does this economic trend measure?
A: This trend measures the overall price level of the Omani economy compared to a reference country, the United States. It provides a standardized metric for evaluating the purchasing power and cost of living in Oman.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for economists and policymakers to assess Oman's economic competitiveness and the standard of living for its citizens relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on national accounts data and purchasing power parity comparisons.
Q: How is this trend used in economic policy?
A: Governments and central banks use this metric to gauge Oman's economic performance and the purchasing power of its currency, which informs policy decisions related to trade, investment, and living standards.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve with minimal delays, making it a timely and reliable source for analyzing Oman's economic conditions.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Oman (PL2GDPOMA621NUPN), retrieved from FRED.