Price Level of Household Consumption for Lao People's Democratic Republic
PLCCPPLAA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.37
Year-over-Year Change
23.23%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Household Consumption for Lao People's Democratic Republic measures the price changes for consumer goods and services purchased by households in Laos. This metric is a key indicator of domestic 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 tracks the average change in prices paid by Lao households for a basket of consumer goods and services. This helps economists and policymakers assess the cost of living and affordability for the general population.
Methodology
The data is calculated based on household expenditure surveys and consumer price index sampling.
Historical Context
This indicator provides context for monetary and fiscal policies aimed at stabilizing domestic prices and supporting household consumption.
Key Facts
- Lao PDR is a lower-middle-income country in Southeast Asia.
- Household consumption accounts for over 70% of Lao's GDP.
- The Lao kip has experienced high inflation in recent decades.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Lao PDR tracks the average change in prices paid by Lao households for consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides key insights into domestic inflation and the purchasing power of Lao consumers, which are important for economic and policy analysis.
Q: How is this data collected or calculated?
A: The data is calculated based on household expenditure surveys and consumer price index sampling.
Q: How is this trend used in economic policy?
A: This indicator informs monetary and fiscal policies aimed at stabilizing domestic prices and supporting household consumption in Lao PDR.
Q: Are there update delays or limitations?
A: The data may have update lags due to the time required for household surveys and price data collection in Lao PDR.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Lao People's Democratic Republic (PLCCPPLAA670NRUG), retrieved from FRED.