Price Level of Imports for Jamaica
PLMCPPJMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
3.56%
Date Range
1/1/1953 - 1/1/2019
Summary
The Price Level of Imports for Jamaica measures the overall change in prices of goods and services imported into Jamaica. It is a key economic indicator for understanding Jamaica's trade dynamics and competitiveness.
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 Jamaica tracks the average change in prices of a basket of imported goods and services over time. This metric provides insight into inflationary pressures, purchasing power, and the cost of living for Jamaican consumers and businesses.
Methodology
The data is collected through surveys of Jamaican importers and calculated as an index relative to a base period.
Historical Context
Policymakers and analysts use this trend to evaluate Jamaica's international trade position and make informed decisions.
Key Facts
- Jamaica is a net importer of goods and services.
- Import prices can impact domestic inflation and consumer purchasing power.
- Tracking import prices is crucial for evaluating Jamaica's trade competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Jamaica measures the overall change in prices of goods and services imported into the country over time.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into inflationary pressures, purchasing power, and the cost of living for Jamaican consumers and businesses, which is crucial for evaluating the country's trade competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Jamaican importers and calculated as an index relative to a base period.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Jamaica's international trade position and make informed decisions about trade, monetary, and fiscal policies.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and revisions due to the nature of import price surveys and index calculations.
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Citation
U.S. Federal Reserve, Price Level of Imports for Jamaica (PLMCPPJMA670NRUG), retrieved from FRED.