Price Level of Government Consumption for Oman
PLGCPPOMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.54
Year-over-Year Change
22.83%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Government Consumption for Oman measures the price index for government spending in the Omani economy. This metric is important for economists and policymakers to understand trends in public sector costs and the fiscal health of the government.
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 Oman is an economic indicator that tracks the average prices paid by the Omani government for its consumption of goods and services. It provides insight into inflationary pressures and cost dynamics within the public sector.
Methodology
This index is calculated by the International Monetary Fund using national accounts data.
Historical Context
Analysts use this indicator to assess the affordability and sustainability of government spending in Oman.
Key Facts
- The index uses 2015 as the base year.
- Oman is a high-income country in the Middle East.
- Government consumption accounts for over 20% of Oman's GDP.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Oman tracks the average prices paid by the Omani government for its consumption of goods and services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into inflationary pressures and cost dynamics within the Omani public sector, which is crucial for assessing the affordability and sustainability of government spending.
Q: How is this data collected or calculated?
A: The index is calculated by the International Monetary Fund using national accounts data.
Q: How is this trend used in economic policy?
A: Analysts use this indicator to evaluate the fiscal health of the Omani government and inform policy decisions related to government spending and taxation.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness of national accounts reporting by the Omani government.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Oman (PLGCPPOMA670NRUG), retrieved from FRED.