Price Level of Household Consumption for Bermuda
PLCCPPBMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.48
Year-over-Year Change
4.21%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Household Consumption for Bermuda measures the average change in prices paid by Bermudian consumers for a basket of goods and services. This metric is a key indicator of inflation and consumer purchasing power.
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 Household Consumption for Bermuda is an index that tracks the average change in prices for a representative sample of consumer goods and services in Bermuda. It serves as a widely used benchmark for assessing the cost of living and inflationary pressures within the Bermudian economy.
Methodology
The data is collected through surveys of consumer prices by the Bermuda Department of Statistics.
Historical Context
Policymakers and economists closely monitor this index to inform decisions on monetary policy, fiscal policy, and consumer protection.
Key Facts
- Bermuda has one of the highest costs of living in the world.
- The price index has risen by over 20% in the past decade.
- Housing and transportation are the largest components of the Bermuda CPI.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Bermuda measures the average change in prices paid by Bermudian consumers for a basket of goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of inflation and consumer purchasing power in Bermuda, making it highly relevant for policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices by the Bermuda Department of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to inform decisions on monetary policy, fiscal policy, and consumer protection.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical release lag of 4-6 weeks.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Bermuda (PLCCPPBMA670NRUG), retrieved from FRED.