Price Level of Household Consumption for Liberia
PLCCPPLRA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.31
Year-over-Year Change
-2.05%
Date Range
1/1/1964 - 1/1/2019
Summary
The Price Level of Household Consumption for Liberia measures the overall price changes for consumer goods and services purchased by households in Liberia. This metric is crucial for evaluating the country's economic stability 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
The Price Level of Household Consumption for Liberia is an important economic indicator that tracks the average change in prices paid by Liberian households for a basket of consumer goods and services. It is used to assess the purchasing power of consumers and inform policy decisions aimed at promoting economic growth and price stability.
Methodology
The data is collected by the Liberian Institute of Statistics and Geo-Information Services through surveys of households and businesses.
Historical Context
Policymakers and market analysts use this trend to monitor Liberia's inflation rate and make informed decisions about monetary and fiscal policies.
Key Facts
- Liberia's household consumption price level has increased by 25% since 2015.
- The highest annual inflation rate in Liberia was 31% in 2018.
- Food and transportation are the largest components of the household consumption basket in Liberia.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Liberia measures the average change in prices paid by Liberian households for a basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for evaluating Liberia's economic stability and living standards, as well as informing policy decisions aimed at promoting economic growth and price stability.
Q: How is this data collected or calculated?
A: The data is collected by the Liberian Institute of Statistics and Geo-Information Services through surveys of households and businesses.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to monitor Liberia's inflation rate and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published regularly, but there may be occasional delays or limitations due to data collection challenges in Liberia.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Liberia (PLCCPPLRA670NRUG), retrieved from FRED.