Price Level of Household Consumption for Senegal
PLCCPPSNA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
-3.87%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Household Consumption for Senegal measures the overall price changes for goods and services consumed by households in Senegal. This metric is crucial for understanding the country's inflation dynamics and cost of living.
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 Senegal is an index that tracks the average change in prices paid by Senegalese households for a representative basket of consumer goods and services. It is a key indicator used by economists and policymakers to assess inflationary pressures and the purchasing power of consumers.
Methodology
The data is collected through household surveys and compiled by the Senegalese national statistical agency.
Historical Context
Policymakers use this metric to guide monetary and fiscal policies aimed at maintaining price stability and supporting household consumption.
Key Facts
- The base year for the index is 2010.
- Senegal's price level for household consumption has increased by 25% since 2010.
- Food and housing are the largest components of the household consumption basket.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Senegal measures the average change in prices paid by Senegalese households for a basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding Senegal's inflation dynamics and the purchasing power of consumers, which informs policymaking and economic analysis.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled by the Senegalese national statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to guide monetary and fiscal policies aimed at maintaining price stability and supporting household consumption.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting, and the basket of goods and services may not fully capture all changes in household consumption patterns.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Senegal (PLCCPPSNA670NRUG), retrieved from FRED.