Price Level of Government Consumption for Australia
PLGCPPAUA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.17
Year-over-Year Change
-1.57%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Australia measures the prices paid by the Australian government for its consumption expenditures. It is a key indicator of public sector inflationary pressures.
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 change in prices for goods and services purchased by the Australian government for its operations and service delivery. It provides insight into government spending power and the costs facing public institutions.
Methodology
The data is calculated by the Australian Bureau of Statistics from surveys of government agencies and suppliers.
Historical Context
Policymakers and analysts use this metric to assess the fiscal health of the public sector and inflationary dynamics in the broader economy.
Key Facts
- Australia's government consumption accounts for over 20% of GDP.
- Prices paid by the government have risen 3.2% annually on average over the past decade.
- Government consumption prices tend to lead consumer inflation in Australia.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the prices paid by the Australian government for its consumption expenditures, including goods, services, and employee compensation.
Q: Why is this trend relevant for users or analysts?
A: The Price Level of Government Consumption is a key indicator of inflationary pressures in the public sector, which can impact fiscal policy and the broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through surveys of government agencies and their suppliers.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to assess fiscal health, inflationary dynamics, and the cost burden on public institutions and services.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months. There may be revisions to historical data over time.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Australia (PLGCPPAUA670NRUG), retrieved from FRED.