Price Level of Household Consumption for Azerbaijan
PLCCPPAZA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.31
Year-over-Year Change
-3.58%
Date Range
1/1/1990 - 1/1/2019
Summary
The Price Level of Household Consumption for Azerbaijan measures the cost of consumer goods and services purchased by households in the country. This key economic indicator helps policymakers and analysts understand trends in domestic purchasing power and consumer price inflation.
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 indicator tracks the overall price level of household consumption expenditures in Azerbaijan. It is used to assess changes in the real purchasing power of consumers and to inform monetary and fiscal policy decisions aimed at promoting price stability and economic growth.
Methodology
The data is calculated by the World Bank based on household consumption expenditure and gross domestic product (GDP) data from national statistics agencies.
Historical Context
The Price Level of Household Consumption is an important input for policymakers evaluating the state of the Azerbaijani economy and the effectiveness of economic and monetary policies.
Key Facts
- The indicator is measured relative to the global average, with a value of 100 representing the global price level.
- Azerbaijan's price level has remained above the global average in recent years, indicating relatively high domestic consumer prices.
- Monitoring this metric helps policymakers assess the competitiveness of Azerbaijani goods and services in international markets.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Azerbaijan measures the overall price level of consumer goods and services purchased by households in the country, relative to the global average.
Q: Why is this trend relevant for users or analysts?
A: This indicator is relevant for understanding domestic purchasing power, assessing the competitiveness of Azerbaijani products, and informing monetary and fiscal policy decisions aimed at promoting price stability and economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank based on household consumption expenditure and gross domestic product (GDP) data from Azerbaijani national statistics agencies.
Q: How is this trend used in economic policy?
A: The Price Level of Household Consumption is an important input for policymakers evaluating the state of the Azerbaijani economy and the effectiveness of economic and monetary policies aimed at promoting price stability and growth.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not reflect the most recent economic conditions in Azerbaijan.
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Citation
World Bank, Price Level of Household Consumption for Azerbaijan (PLCCPPAZA670NRUG), retrieved from FRED.