Price Level of GDP, average of GEKS-CPDW for Slovak Republic
PL2GDPSKA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.27
Year-over-Year Change
87.65%
Date Range
1/1/1987 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Slovak Republic measures the relative purchasing power of the Slovak Republic's GDP compared to a reference region. This indicator is crucial for economists and policymakers to assess the country's economic competitiveness and living standards.
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 Slovak Republic is an index that reflects the overall price level in the Slovak Republic relative to a reference region, typically the OECD average. It provides insights into the country's cost of living and economic productivity compared to its peers.
Methodology
The data is calculated using the Gini-Éltetö-Köves-Szulc (GEKS) method applied to Consumption PPPs (CPDW).
Historical Context
This indicator is widely used by economists, international organizations, and policymakers to analyze the Slovak Republic's economic performance and competitiveness.
Key Facts
- The Price Level of GDP for Slovak Republic was 59.31 in 2021.
- Slovakia's price level is approximately 59% of the OECD average.
- The Price Level of GDP is a key indicator of a country's standard of living.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Slovak Republic measures the relative price level in Slovakia compared to a reference region, typically the OECD average.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for assessing Slovakia's economic competitiveness, cost of living, and standard of living relative to its peers.
Q: How is this data collected or calculated?
A: The data is calculated using the Gini-Éltetö-Köves-Szulc (GEKS) method applied to Consumption PPPs (CPDW).
Q: How is this trend used in economic policy?
A: Economists, international organizations, and policymakers use this indicator to analyze Slovakia's economic performance and competitiveness, informing policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in the availability of the latest data, as it relies on international statistical agencies.
Related Trends
Price Level of Consumption for Morocco
PLOCONMAA622NUPN
Price Level of GDP, average of GEKS-CPDW for Cape Verde
PL2GDPCVA621NUPN
Price Level of Investment for Marshall Islands
PLOINVMHA624NUPN
Price Level of Consumption for Federated States of Micronesia
PLOCONFMA622NUPN
Price Level of GDP, G-K method for Germany
PLOGDPDEA621NUPN
Price Level of Government Consumption for Bahrain
PLOGINBHA623NUPN
Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Slovak Republic (PL2GDPSKA621NUPN), retrieved from FRED.