Price Level of Government Consumption for New Zealand
PLGCPPNZA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.96
Year-over-Year Change
1.88%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for New Zealand measures the overall price changes for government purchases of goods and services. It is a key indicator of fiscal policy and public sector activity.
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 price changes in government consumption expenditures, which include spending on public services, employee compensation, and procurement of materials. It provides insight into inflationary pressures and cost drivers within the public sector.
Methodology
The data is calculated based on price surveys and national accounts data collected by Statistics New Zealand.
Historical Context
Policymakers use this metric to assess the fiscal landscape and inflationary impacts of government spending.
Key Facts
- The base year for this index is 2010 = 100.
- Government consumption is approximately 18% of New Zealand's GDP.
- The index has increased by 20% since 2010.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for New Zealand tracks the overall price changes for goods and services purchased by the government.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into inflationary pressures and cost drivers within the public sector, which is crucial for fiscal policy analysis and economic planning.
Q: How is this data collected or calculated?
A: The data is calculated based on price surveys and national accounts data collected by Statistics New Zealand.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the fiscal landscape and inflationary impacts of government spending, which informs decisions on taxation, public services, and other fiscal measures.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical lag of 3 months.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for New Zealand (PLGCPPNZA670NRUG), retrieved from FRED.