Price Level of Household Consumption for Guinea
PLCCPPGNA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.41
Year-over-Year Change
17.36%
Date Range
1/1/1959 - 1/1/2019
Summary
The Price Level of Household Consumption for Guinea measures the relative costs of consumer goods and services in Guinea compared to a base year. It is a key economic indicator used to assess Guinea's cost of living and 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 Guinea is an index that tracks the average change in prices paid by Guinean households for a basket of consumer goods and services. It is used to evaluate inflation, compare costs of living across time periods, and inform economic policymaking.
Methodology
The data is calculated by Guinea's National Statistical Institute based on surveys of household expenditures.
Historical Context
This index provides important context for analyzing Guinea's economic performance and the standard of living for its citizens.
Key Facts
- The base year for the index is 2010.
- Guinea's price level of household consumption has risen by over 80% since 2010.
- High inflation remains a persistent challenge for the Guinean economy.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Guinea measures the average change in prices paid by Guinean households for consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This index provides key insights into Guinea's cost of living, purchasing power, and inflationary pressures, which are critical for evaluating the country's economic performance and standard of living.
Q: How is this data collected or calculated?
A: The data is calculated by Guinea's National Statistical Institute based on surveys of household expenditures.
Q: How is this trend used in economic policy?
A: Policymakers in Guinea use this index to inform decisions around monetary policy, taxation, and programs aimed at supporting household purchasing power.
Q: Are there update delays or limitations?
A: There may be delays in the publication of this data, and the methodology used to calculate the index may evolve over time.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Guinea (PLCCPPGNA670NRUG), retrieved from FRED.