Price Level of Household Consumption for Jamaica
PLCCPPJMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
-4.47%
Date Range
1/1/1953 - 1/1/2019
Summary
The Price Level of Household Consumption for Jamaica measures the overall price changes for goods and services consumed by Jamaican households. This metric is crucial for economists and policymakers to assess cost-of-living trends and inflation pressures.
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 series represents the price index for household consumption expenditures in Jamaica. It is used to track changes in the general price level of consumer purchases, which is a key indicator of the country's macroeconomic health and consumer purchasing power.
Methodology
The data is collected through surveys of Jamaican households and businesses by the Statistical Institute of Jamaica.
Historical Context
Policymakers use this index to guide monetary and fiscal policies aimed at maintaining price stability and economic growth.
Key Facts
- The base year for the index is 2007.
- Jamaica's household consumption price index has risen by over 200% since 2007.
- Rapid inflation is a key economic challenge facing Jamaica.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Jamaica measures changes in the overall prices of goods and services purchased by Jamaican households.
Q: Why is this trend relevant for users or analysts?
A: This index is a crucial indicator of inflation and consumer purchasing power in Jamaica, informing economic policymaking and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected through household and business surveys conducted by the Statistical Institute of Jamaica.
Q: How is this trend used in economic policy?
A: Jamaican policymakers utilize this index to guide monetary and fiscal policies aimed at maintaining price stability and supporting economic growth.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be lags in availability due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Jamaica (PLCCPPJMA670NRUG), retrieved from FRED.