Price Level of Government Consumption for Trinidad and Tobago
PLGCPPTTA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.71
Year-over-Year Change
34.57%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Trinidad and Tobago measures the relative price level of government consumption expenditures in the country. This metric is important for economists and policymakers to assess the efficiency and cost-effectiveness of government 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 series represents the national price level for government consumption, which includes spending on public services, employee compensation, and other government outlays. Analyzing this data can provide insights into the purchasing power and inflationary pressures faced by the public sector.
Methodology
The data is calculated by the International Monetary Fund based on national accounts information.
Historical Context
Tracking the price level of government consumption is relevant for fiscal policy decisions and budgeting at the national level.
Key Facts
- Trinidad and Tobago is a Caribbean island nation.
- Government spending accounts for over 30% of the country's GDP.
- Inflation has remained below 5% in Trinidad and Tobago in recent years.
FAQs
Q: What does this economic trend measure?
A: This series measures the relative price level of government consumption expenditures in Trinidad and Tobago. It represents the purchasing power and cost-effectiveness of the public sector's spending.
Q: Why is this trend relevant for users or analysts?
A: Tracking the price level of government consumption is important for assessing the efficiency and inflationary pressures faced by the public sector, which is relevant for fiscal policy decisions and national budgeting.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund based on national accounts information.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to evaluate the cost-effectiveness of government spending and inform fiscal policy decisions at the national level.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the IMF, but there may be some delay in availability compared to more frequently updated economic indicators.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Trinidad and Tobago (PLGCPPTTA670NRUG), retrieved from FRED.