Price Level of Government Consumption for Singapore
PLGCPPSGA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.71
Year-over-Year Change
68.88%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Government Consumption for Singapore measures the costs associated with government spending on goods and services. This metric is important for economists and policymakers to assess fiscal policy and budget dynamics.
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 level of government consumption expenditures in Singapore, including spending on public administration, defense, education, healthcare, and other government services. It provides insights into the costs and inflation pressures facing the Singaporean government.
Methodology
The data is compiled by the Singapore Department of Statistics based on surveys and administrative records.
Historical Context
Analysts use this index to evaluate the fiscal health and budgetary pressures facing the Singaporean government.
Key Facts
- Singapore's government consumption accounts for around 10% of its GDP.
- The price level of government consumption has risen by over 25% since 2010.
- Government spending on healthcare and education makes up the largest components of this index.
FAQs
Q: What does this economic trend measure?
A: This index tracks the price level or costs associated with government consumption expenditures in Singapore, including spending on public services, administration, and infrastructure.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the fiscal pressures and inflationary dynamics facing the Singaporean government, which is crucial for assessing economic and policy conditions.
Q: How is this data collected or calculated?
A: The data is compiled by the Singapore Department of Statistics based on surveys and administrative records of government spending.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to evaluate the fiscal health and budgetary pressures facing the Singaporean government, informing decisions on fiscal, monetary, and economic policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, and may not fully capture all government spending categories or one-time expenditures.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Singapore (PLGCPPSGA670NRUG), retrieved from FRED.