Price Level of GDP, average of GEKS-CPDW for Russia
PL2GDPRUA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.00
Year-over-Year Change
99.62%
Date Range
1/1/1990 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Russia, measures the relative prices of goods and services in Russia compared to the United States. This metric is crucial for understanding the purchasing power and cost of living in the Russian 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 prices of a fixed basket of goods and services between countries. The GEKS-CPDW method is a sophisticated approach that accounts for differences in product availability and quality across nations.
Methodology
The data is calculated based on national accounts and consumer price data collected by statistical agencies.
Historical Context
Policymakers and analysts use this metric to evaluate Russia's economic competitiveness and the standard of living for Russian consumers.
Key Facts
- Russia's price level was 62.1% of the U.S. level in 2020.
- The price level index has increased from 49.5% in 2000 to 62.1% in 2020.
- Higher price levels indicate lower purchasing power for Russian consumers.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Russia measures the relative prices of goods and services in Russia compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the purchasing power and cost of living in the Russian economy, as well as evaluating its economic competitiveness relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated based on national accounts and consumer price data collected by statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Russia's economic competitiveness and the standard of living for Russian consumers.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions by the statistical agencies.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Russia (PL2GDPRUA621NUPN), retrieved from FRED.