Price Level of GDP, average of GEKS-CPDW for South Africa
PL2GDPZAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84.21
Year-over-Year Change
26.87%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for South Africa measures the relative purchasing power of the South African rand compared to the U.S. dollar. This trend is important for economists and policymakers to analyze South Africa's economic competitiveness and standard of living.
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
This series provides an index-based measure of the South African price level relative to the United States. It is calculated using the Geary-Khamis-Eltető-Köves-Szulc purchasing power parity (GEKS-CPDW) method, which allows for international price and volume comparisons.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
Policymakers and investors use this trend to assess South Africa's economic performance and competitiveness.
Key Facts
- South Africa's price level was 62.1% of the U.S. level in 2021.
- The price level index has declined from 68.7% in 2010, indicating a loss of economic competitiveness.
- Relative prices affect the standard of living and trade balance in South Africa.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price level of the South African economy compared to the United States, providing an indicator of the purchasing power of the rand.
Q: Why is this trend relevant for users or analysts?
A: The price level index is important for evaluating South Africa's economic competitiveness and the standard of living for its citizens.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: Policymakers and investors use this trend to assess South Africa's economic performance and competitiveness in global markets.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not fully capture recent economic changes in South Africa.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for South Africa (PL2GDPZAA621NUPN), retrieved from FRED.