Price Level of Imports for Togo
PLMCPPTGA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
-0.33%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Imports for Togo (PLMCPPTGA670NRUG) measures the average cost of goods and services imported into Togo. This indicator provides insights into Togo's international trade and the economic forces affecting import prices.
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 Togo is an index that tracks the evolution of import prices over time. It is used by economists and policymakers to analyze Togo's trade balance, inflationary pressures, and the competitiveness of Togo's exports in global markets.
Methodology
The data is collected by Togo's national statistical agency through surveys of importers and customs records.
Historical Context
Trends in the Price Level of Imports for Togo are closely monitored by the central bank and finance ministry to inform macroeconomic and trade policies.
Key Facts
- Togo is a major importer of machinery, vehicles, and consumer goods.
- Import prices can impact domestic inflation and the cost of living in Togo.
- Togo's trade deficit is largely driven by the high cost of imported goods.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Togo measures the average cost of goods and services imported into the country. It tracks changes in import prices over time.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Togo's trade balance, inflationary pressures, and the competitiveness of its exports. It is closely monitored by policymakers to inform economic and trade policies.
Q: How is this data collected or calculated?
A: The data is collected by Togo's national statistical agency through surveys of importers and customs records.
Q: How is this trend used in economic policy?
A: Trends in the Price Level of Imports for Togo are used by the central bank and finance ministry to monitor inflationary pressures and inform macroeconomic and trade policies.
Q: Are there update delays or limitations?
A: The data is published regularly by the national statistical agency, but there may be a lag of several months between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Price Level of Imports for Togo (PLMCPPTGA670NRUG), retrieved from FRED.