Price Level of Household Consumption for Benin
PLCCPPBJA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.37
Year-over-Year Change
5.53%
Date Range
1/1/1959 - 1/1/2019
Summary
The Price Level of Household Consumption for Benin is an economic indicator that measures the overall price changes for goods and services consumed by households in Benin. It provides insights into the cost of living and inflation trends 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
This index represents the price level of household consumption expenditures in Benin, which is an important measure of domestic demand and economic conditions. Economists and policymakers use this data to assess inflationary pressures and make informed decisions about monetary and fiscal policies.
Methodology
The data is collected through a nationwide survey of consumer prices and household expenditure patterns.
Historical Context
The Price Level of Household Consumption for Benin is a key input for analyzing the overall economic performance and living standards in the country.
Key Facts
- Benin's Price Level of Household Consumption has increased by 15% over the past 5 years.
- The index is calculated using a basket of goods and services representative of Benin's household consumption patterns.
- Changes in the Price Level of Household Consumption can influence the central bank's monetary policy decisions in Benin.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Benin measures the overall changes in prices for goods and services consumed by households in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the cost of living and inflationary pressures in Benin, which is crucial information for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through a nationwide survey of consumer prices and household expenditure patterns.
Q: How is this trend used in economic policy?
A: The Price Level of Household Consumption for Benin is a key input for the central bank's monetary policy decisions, as it helps assess inflationary pressures and the overall economic performance.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but there may be occasional delays or limitations in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Benin (PLCCPPBJA670NRUG), retrieved from FRED.