Price Level of Household Consumption for Guinea-Bissau
PLCCPPGWA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.42
Year-over-Year Change
10.14%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Household Consumption for Guinea-Bissau measures the relative cost of consumer goods and services in the country compared to a reference base period. It is a key economic indicator used to assess inflation and living standards.
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 price index represents the cost of a basket of consumer goods and services typically purchased by households in Guinea-Bissau. It is used to track changes in the overall price level over time and can provide insights into the affordability of consumer items for the local population.
Methodology
The data is calculated by the World Bank based on price surveys and expenditure patterns.
Historical Context
Policymakers and analysts use this indicator to monitor inflation and understand the purchasing power of consumers.
Key Facts
- The base year for this index is 2010.
- The index was 178.7 in 2021, indicating a 78.7% increase in prices since 2010.
- High inflation can erode consumer purchasing power and standards of living.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Guinea-Bissau measures the overall cost of consumer goods and services purchased by households in the country.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into inflation and the affordability of living for consumers in Guinea-Bissau, which is crucial for policymakers and economists analyzing the state of the country's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank based on price surveys and expenditure patterns within Guinea-Bissau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this price index to monitor inflation, assess the purchasing power of consumers, and inform decisions related to economic and fiscal policy.
Q: Are there update delays or limitations?
A: The data may be subject to occasional delays in reporting, and the index may not capture all aspects of household consumption patterns in Guinea-Bissau.
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Citation
World Bank, Price Level of Household Consumption for Guinea-Bissau (PLCCPPGWA670NRUG), retrieved from FRED.