Price Level of Household Consumption for Burkina Faso
PLCCPPBFA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.35
Year-over-Year Change
3.65%
Date Range
1/1/1959 - 1/1/2019
Summary
The Price Level of Household Consumption for Burkina Faso measures the changes in consumer prices for goods and services purchased by households in the country. This metric is crucial for understanding the nation's inflation dynamics and the purchasing power of its citizens.
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 trend represents the price level of household consumption in Burkina Faso, a key economic indicator used to track and analyze the country's inflation. It is an important measure for policymakers, economists, and businesses to assess the cost of living and the purchasing power of Burkinabe consumers.
Methodology
The data is collected by the national statistical agency through surveys of household expenditures and prices.
Historical Context
This trend is widely used by the government, central bank, and international organizations to inform monetary and fiscal policies in Burkina Faso.
Key Facts
- Burkina Faso is a landlocked country in West Africa.
- The economy is largely agricultural, with cotton and gold as major exports.
- Inflation has been a persistent challenge for the country in recent years.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Burkina Faso measures the changes in consumer prices for goods and services purchased by households in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding Burkina Faso's inflation dynamics and the purchasing power of its citizens, which is vital information for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the national statistical agency through surveys of household expenditures and prices.
Q: How is this trend used in economic policy?
A: This trend is widely used by the government, central bank, and international organizations to inform monetary and fiscal policies in Burkina Faso.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the national statistical agency.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Burkina Faso (PLCCPPBFA670NRUG), retrieved from FRED.