Price Level of Imports for Hungary
PLMCPPHUA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
-0.93%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Imports for Hungary measures the overall change in prices of goods and services imported into Hungary. This indicator is closely watched by economists and policymakers to assess the country's international trade dynamics and inflationary pressures.
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 Imports for Hungary is an index that tracks the average change in prices of a basket of imported goods and services over time. It provides insights into Hungary's trade competitiveness and the impact of global supply and demand on domestic prices.
Methodology
The data is collected through surveys of importers and compiled by the Hungarian Central Statistical Office.
Historical Context
This trend is used by the Hungarian National Bank and other institutions to inform monetary and trade policy decisions.
Key Facts
- Hungary is a major importer of goods and services, with imports accounting for over 80% of its GDP.
- The Price Level of Imports for Hungary has risen by over 20% since 2015, reflecting a weakening of the Hungarian forint.
- Policymakers closely monitor this trend to assess the impact of exchange rate fluctuations on domestic inflation.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Hungary measures the overall change in prices of goods and services imported into the country. It is an important indicator of Hungary's trade competitiveness and inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Hungary's international trade dynamics and the impact of global supply and demand on domestic prices. It is closely watched by economists, policymakers, and market analysts to inform decisions related to monetary and trade policy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and compiled by the Hungarian Central Statistical Office.
Q: How is this trend used in economic policy?
A: The Price Level of Imports for Hungary is used by the Hungarian National Bank and other institutions to assess the country's trade competitiveness and inflationary pressures, which informs their monetary and trade policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical delay of around 4-6 weeks. There may be occasional revisions to the historical data as well.
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Citation
U.S. Federal Reserve, Price Level of Imports for Hungary (PLMCPPHUA670NRUG), retrieved from FRED.