Price Level of Government Consumption for Colombia
PLGCPPCOA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.31
Year-over-Year Change
-44.22%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Colombia measures the price index for government consumption expenditures, providing insights into inflationary pressures and fiscal policy considerations.
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 indicator represents the price level of government consumption expenditures in Colombia, which is a key component of the country's gross domestic product. It serves as an important metric for policymakers and economists in evaluating the cost of government services and the potential impact on public finances.
Methodology
The data is collected and calculated by the World Bank based on national accounts information.
Historical Context
The price level of government consumption is used by analysts to assess the fiscal health and budgetary constraints faced by the Colombian government.
Key Facts
- The base year for this index is 2010.
- Colombia's government consumption accounted for approximately 15% of GDP in 2021.
- The price level of government consumption has increased by over 50% since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of government consumption expenditures in Colombia, providing insights into the cost of government services and the potential impact on public finances.
Q: Why is this trend relevant for users or analysts?
A: The price level of government consumption is a key indicator for policymakers and economists in evaluating the fiscal health and budgetary constraints faced by the Colombian government.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts information.
Q: How is this trend used in economic policy?
A: This trend is used by analysts to assess the impact of government consumption on the overall economy and to inform fiscal policy decisions in Colombia.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Colombia (PLGCPPCOA670NRUG), retrieved from FRED.