Price Level of Household Consumption for Iraq
PLCCPPIQA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.48
Year-over-Year Change
19.05%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Household Consumption for Iraq measures changes in the general price level of goods and services purchased by Iraqi households. This metric is crucial for understanding the cost of living and purchasing power within the Iraqi economy.
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 Iraq is an index that tracks the average change in prices paid by Iraqi consumers for a basket of household goods and services. It serves as an important indicator of inflationary pressures and the overall health of the Iraqi economy.
Methodology
The data is collected through surveys of Iraqi households and businesses, and calculated using a weighted average of price changes for different consumption categories.
Historical Context
Policymakers and analysts use this index to inform decisions around monetary policy, fiscal policy, and economic development strategies in Iraq.
Key Facts
- The base year for the index is 2010.
- Iraq's household consumption accounts for over 50% of its GDP.
- The index is published on a monthly basis by the U.S. Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Iraq measures the average change in prices paid by Iraqi consumers for a basket of household goods and services.
Q: Why is this trend relevant for users or analysts?
A: This index is a crucial indicator of inflationary pressures and the overall cost of living in Iraq, which is vital information for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Iraqi households and businesses, and calculated using a weighted average of price changes for different consumption categories.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to inform decisions around monetary policy, fiscal policy, and economic development strategies in Iraq.
Q: Are there update delays or limitations?
A: The index is published on a monthly basis by the U.S. Federal Reserve, with minimal delays in data reporting.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Iraq (PLCCPPIQA670NRUG), retrieved from FRED.