Price Level of Government Consumption for Norway
PLGCPPNOA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.38
Year-over-Year Change
-23.21%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Norway measures the price index for government consumption expenditures in Norway. This metric is crucial for understanding the cost and affordability of public services and government programs.
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 economic indicator tracks changes in the prices paid by the Norwegian government for goods and services used in providing public services. Analysts and policymakers monitor this trend to gauge inflationary pressures and the fiscal health of the government.
Methodology
The data is collected through surveys of government agencies and contractors.
Historical Context
The price level of government consumption is an important input for fiscal policy decisions and budgeting.
Key Facts
- Norway's government consumption accounts for over 20% of its GDP.
- Prices for government goods and services have risen faster than overall consumer prices in Norway since 2010.
- Monitoring the price level of government consumption helps policymakers assess the fiscal burden on taxpayers.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Norway measures the price index for goods and services purchased by the Norwegian government for public service provision.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding inflationary pressures on government budgets and the affordability of public services in Norway.
Q: How is this data collected or calculated?
A: The data is collected through surveys of government agencies and contractors on the prices paid for various goods and services.
Q: How is this trend used in economic policy?
A: The price level of government consumption is an important input for fiscal policy decisions, government budgeting, and assessing the fiscal health of the public sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the latest economic conditions.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Norway (PLGCPPNOA670NRUG), retrieved from FRED.