Price Level of Government Consumption for Hungary
PLGCPPHUA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
-28.37%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Government Consumption for Hungary measures the relative cost of government spending in Hungary compared to the global average. This metric is important for economists and policymakers to assess the efficiency and affordability of Hungary's public sector.
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 Hungary represents the price index for government consumption expenditures in the country relative to the global average. It provides insight into the cost-effectiveness of Hungary's public sector and can inform fiscal policy decisions.
Methodology
This data is calculated by the World Bank using exchange rates and purchasing power parity conversions.
Historical Context
Analysts and policymakers use this trend to evaluate Hungary's government spending in an international context.
Key Facts
- Hungary's government consumption price level was 59.7% of the global average in 2020.
- This metric has declined from a high of 71.4% in 2010, indicating greater cost-efficiency.
- Lowering the relative price of government spending can create fiscal space for other priorities.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Hungary measures the relative cost of government spending in the country compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the cost-effectiveness of Hungary's public sector, which is important for evaluating fiscal policy and the affordability of government services.
Q: How is this data collected or calculated?
A: The World Bank calculates this data using exchange rates and purchasing power parity conversions.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to assess Hungary's government spending in an international context and inform decisions about fiscal policy and public sector efficiency.
Q: Are there update delays or limitations?
A: This data is published annually by the World Bank, so there may be a delay of up to a year in the most recent observations.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Hungary (PLGCPPHUA670NRUG), retrieved from FRED.