Price Level of Government Consumption for Guinea
PLGCPPGNA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.32
Year-over-Year Change
14.40%
Date Range
1/1/1959 - 1/1/2019
Summary
The Price Level of Government Consumption for Guinea measures the relative price of government consumption in Guinea compared to the United States. This indicator provides insights into the cost of government services and goods in the Guinean economy.
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 Government Consumption for Guinea is an index that compares the price level of government consumption in Guinea to the United States, where the U.S. price level is normalized to 100. This measure helps economists and policymakers assess the affordability and efficiency of government spending in Guinea.
Methodology
The data is calculated by the World Bank using purchasing power parity (PPP) and price survey information.
Historical Context
Trends in the price level of government consumption are relevant for fiscal policy analysis and international comparisons of government expenditure.
Key Facts
- The price level in Guinea is approximately 58% of the U.S. level.
- Government consumption accounts for around 10% of Guinea's GDP.
- The price level has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Guinea measures the relative price of government goods and services in Guinea compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the cost-effectiveness and affordability of government spending in Guinea, which is important for fiscal policy analysis and international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using purchasing power parity (PPP) and price survey information.
Q: How is this trend used in economic policy?
A: Trends in the price level of government consumption are relevant for assessing the efficiency and cost-effectiveness of government spending, which is important for fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture short-term fluctuations in the price level of government consumption.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Guinea (PLGCPPGNA670NRUG), retrieved from FRED.