Price Level of GDP, average of GEKS-CPDW for Solomon Islands
PL2GDPSBA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.86
Year-over-Year Change
27.27%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP for Solomon Islands measures the relative price level of GDP between Solomon Islands and the United States. It is an important indicator for understanding the purchasing power and cost of living in Solomon Islands compared to the U.S.
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 price level of GDP in a given country to the price level of GDP in the United States. It provides insight into the relative cost of goods and services in that country compared to the U.S. and is used to assess living standards and competitiveness.
Methodology
The data is calculated using the GEKS-CPDW method, which compares price levels across countries.
Historical Context
Policymakers and analysts use this metric to evaluate the economic conditions and purchasing power in Solomon Islands relative to the U.S.
Key Facts
- The Price Level of GDP for Solomon Islands is 53.58 (2017).
- This indicates the GDP in Solomon Islands costs about 53.58% of what it would cost in the U.S.
- The data is updated annually by the Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP for Solomon Islands measures the relative price level of GDP between Solomon Islands and the United States. It provides insight into the purchasing power and cost of living in Solomon Islands compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic conditions and living standards in Solomon Islands relative to the U.S. It helps policymakers and analysts evaluate the country's competitiveness and the purchasing power of its citizens.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, which compares price levels across countries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic conditions and purchasing power in Solomon Islands relative to the U.S., which informs decision-making and policy.
Q: Are there update delays or limitations?
A: The data is updated annually by the Federal Reserve. There may be some delays in data availability, but the metric provides a reliable comparison of price levels between Solomon Islands and the United States.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Solomon Islands (PL2GDPSBA621NUPN), retrieved from FRED.