Price Level of Household Consumption for Trinidad and Tobago
PLCCPPTTA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.61
Year-over-Year Change
7.49%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Trinidad and Tobago measures the overall price changes for goods and services purchased by households in the country. This metric is crucial for assessing the nation's cost of living and 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
This economic indicator tracks the price changes in a fixed basket of consumer goods and services over time. It serves as a key gauge of Trinidad and Tobago's domestic inflation and is used to inform policymakers, consumers, and businesses.
Methodology
The data is collected through surveys of households and businesses, then aggregated and calculated by the Trinidad and Tobago Central Statistical Office.
Historical Context
This price index is an important input for monetary and fiscal policy decisions in Trinidad and Tobago.
Key Facts
- Trinidad and Tobago's price level of household consumption has increased by over 60% since 2010.
- Household consumption accounts for over 60% of Trinidad and Tobago's GDP.
- The Central Bank of Trinidad and Tobago uses this index to set monetary policy and inflation targets.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Trinidad and Tobago measures the overall price changes for goods and services purchased by households in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for assessing the nation's cost of living and purchasing power, and is a key input for monetary and fiscal policy decisions in Trinidad and Tobago.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses, then aggregated and calculated by the Trinidad and Tobago Central Statistical Office.
Q: How is this trend used in economic policy?
A: The Price Level of Household Consumption for Trinidad and Tobago is an important input for monetary and fiscal policy decisions in the country.
Q: Are there update delays or limitations?
A: The data is published regularly by the Trinidad and Tobago Central Statistical Office, with minimal delays.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Trinidad and Tobago (PLCCPPTTA670NRUG), retrieved from FRED.