Price Level of Government Consumption for Saudi Arabia
PLGCPPSAA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.48
Year-over-Year Change
3.19%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Government Consumption for Saudi Arabia tracks the cost of government-purchased goods and services in the country. This metric is crucial for economists and policymakers to understand the inflationary pressures and efficiency of public spending.
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 measures the price level of goods and services purchased by the Saudi Arabian government for public consumption, rather than individual consumer purchases. It provides insight into the cost of government operations and is a key indicator of fiscal health and policy.
Methodology
The data is collected by the International Monetary Fund (IMF) through surveys and reports from the Saudi Arabian government.
Historical Context
This trend is closely monitored by economists, investors, and policymakers to assess the state of the Saudi Arabian economy and the effectiveness of government spending.
Key Facts
- The base year for this index is 2016.
- Saudi Arabia is a major global oil producer and exporter.
- Government spending accounts for a significant portion of Saudi Arabia's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of goods and services purchased by the Saudi Arabian government for public consumption, rather than individual consumer purchases.
Q: Why is this trend relevant for users or analysts?
A: This trend provides crucial insight into the inflationary pressures and efficiency of public spending in Saudi Arabia, which is important for understanding the overall health of the Saudi economy.
Q: How is this data collected or calculated?
A: The data is collected by the International Monetary Fund (IMF) through surveys and reports from the Saudi Arabian government.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, investors, and policymakers to assess the state of the Saudi Arabian economy and the effectiveness of government spending.
Q: Are there update delays or limitations?
A: The data may be subject to update delays or limitations based on the reporting processes of the Saudi Arabian government and the IMF.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Saudi Arabia (PLGCPPSAA670NRUG), retrieved from FRED.