Price Level of Household Consumption for Slovakia
PLCCPPSKA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.67
Year-over-Year Change
9.81%
Date Range
1/1/1990 - 1/1/2019
Summary
The Price Level of Household Consumption for Slovakia measures the general price level of consumer goods and services purchased by Slovak households. This key economic indicator provides insights into inflation and purchasing power trends.
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 index tracks the average change in prices paid by Slovak consumers for a basket of common household goods and services. It is a valuable measure of domestic inflation and an important input for economic policy decisions.
Methodology
The data is collected through comprehensive surveys of consumer spending and prices across Slovakia.
Historical Context
The Slovak government and central bank closely monitor this indicator to inform monetary and fiscal policies.
Key Facts
- Slovakia's household consumption price level has risen by 20% since 2015.
- Food and energy costs make up over 30% of the consumption basket.
- The price index is a key input for adjusting government benefits and worker wages.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Slovakia measures the average change in prices paid by Slovak consumers for a basket of common household goods and services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into domestic inflation and purchasing power trends, which are crucial for economic policymaking and personal financial planning.
Q: How is this data collected or calculated?
A: The data is collected through comprehensive surveys of consumer spending and prices across Slovakia.
Q: How is this trend used in economic policy?
A: The Slovak government and central bank closely monitor this indicator to inform monetary and fiscal policies, such as adjusting government benefits and worker wages.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule, but there may be lags of several weeks or months before the latest figures are available.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Slovakia (PLCCPPSKA670NRUG), retrieved from FRED.