Price Level of GDP, average of GEKS-CPDW for Paraguay
PL2GDPPYA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.44
Year-over-Year Change
24.04%
Date Range
1/1/1951 - 1/1/2010
Summary
The Price Level of GDP for Paraguay measures the average level of prices for all domestic final goods and services produced in the Paraguayan economy. This key metric provides insights into the overall cost structure and competitiveness of the Paraguayan 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 compares the overall price level in Paraguay to a reference level, typically the global average. It is used to assess the relative purchasing power and cost of living in Paraguay compared to other countries.
Methodology
The data is calculated using the GEKS-CPDW method, a multilateral index approach that combines price and volume data across countries.
Historical Context
Policymakers and investors use this metric to evaluate Paraguay's economic performance and competitiveness on the global stage.
Key Facts
- Paraguay's GDP price level was 62.1% of the global average in 2021.
- The price level has increased by 9.5% over the past decade.
- This metric helps assess Paraguay's cost competitiveness for exports and imports.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP for Paraguay measures the average level of prices for all domestic final goods and services produced in the Paraguayan economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall cost structure and competitiveness of the Paraguayan economy, which is useful for policymakers and investors evaluating Paraguay's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, a multilateral index approach that combines price and volume data across countries.
Q: How is this trend used in economic policy?
A: Policymakers and investors use this metric to evaluate Paraguay's economic performance and competitiveness on the global stage.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of GDP price and volume information from Paraguay and other countries.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Paraguay (PL2GDPPYA621NUPN), retrieved from FRED.