Price Level of Household Consumption for Bolivarian Republic of Venezuela
PLCCPPVEA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.14
Year-over-Year Change
3310.52%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for the Bolivarian Republic of Venezuela measures the cost of consumer goods and services for Venezuelan households. This key economic indicator is used to track inflation and the purchasing power of the Venezuelan bolívar.
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 represents the price level of household consumption expenditures in Venezuela, including goods and services purchased by households. It is a vital metric for assessing the state of the Venezuelan economy and the standard of living for its citizens.
Methodology
The data is calculated based on a survey of household spending and prices collected by the Venezuelan National Institute of Statistics.
Historical Context
Policymakers and economists closely monitor this index to understand inflationary pressures and make informed decisions about economic and monetary policies.
Key Facts
- Venezuela has faced hyperinflation in recent years.
- Household consumption accounts for a large portion of Venezuela's GDP.
- This index is an important indicator of economic stability and living conditions.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for the Bolivarian Republic of Venezuela measures the cost of consumer goods and services purchased by Venezuelan households.
Q: Why is this trend relevant for users or analysts?
A: This index is a vital metric for assessing the state of the Venezuelan economy and the standard of living for its citizens, as it tracks inflationary pressures and the purchasing power of the Venezuelan bolívar.
Q: How is this data collected or calculated?
A: The data is calculated based on a survey of household spending and prices collected by the Venezuelan National Institute of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to understand inflationary pressures and make informed decisions about economic and monetary policies in Venezuela.
Q: Are there update delays or limitations?
A: The availability and reliability of this data may be limited due to the economic and political challenges in Venezuela.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Bolivarian Republic of Venezuela (PLCCPPVEA670NRUG), retrieved from FRED.