Price Level of GDP, average of GEKS-CPDW for Trinidad and Tobago
PL2GDPTTA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.23
Year-over-Year Change
33.04%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Trinidad and Tobago measures the relative price level of the gross domestic product (GDP) in Trinidad and Tobago compared to the United States. This metric is important for economists and policymakers to understand 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
The Price Level of GDP, average of GEKS-CPDW for Trinidad and Tobago is an index that compares the overall price level of goods and services in Trinidad and Tobago to the United States. It provides insights into the relative cost of living and international competitiveness of the country's economy.
Methodology
The data is calculated using the Gini-Éltetö-Köves-Szulc (GEKS) method applied to national accounts data.
Historical Context
This metric is used by economists, analysts, and policymakers to assess the economic conditions and purchasing power in Trinidad and Tobago compared to other countries.
Key Facts
- Trinidad and Tobago's price level was 62.1% of the U.S. level in 2021.
- The price level index has increased by 8.4% since 2010.
- Relative price levels can impact trade, investment, and living standards.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Trinidad and Tobago measures the relative price level of goods and services in the country compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the purchasing power and cost of living in Trinidad and Tobago, as well as the country's international economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated using the Gini-Éltetö-Köves-Szulc (GEKS) method applied to national accounts data.
Q: How is this trend used in economic policy?
A: Economists, analysts, and policymakers use this metric to assess the economic conditions and purchasing power in Trinidad and Tobago compared to other countries, which can inform trade, investment, and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve and may be subject to occasional update delays.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Trinidad and Tobago (PL2GDPTTA621NUPN), retrieved from FRED.