Price Level of Imports for Turkey
PLMCPPTRA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.64
Year-over-Year Change
4.94%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Imports for Turkey measures changes in the prices of goods and services imported into Turkey. It is a key indicator of international trade dynamics and inflation pressures in the Turkish economy.
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 Turkey is a price index that tracks the overall change in prices for a basket of imported goods and services. It provides insight into the cost of imports, which can influence domestic inflation, consumer purchasing power, and trade balances.
Methodology
The data is collected by Turkey's national statistical agency through surveys of import prices.
Historical Context
Policymakers and analysts use this index to assess the impact of global price movements on the Turkish economy.
Key Facts
- The base year for the index is 2015.
- Prices are measured at the border before any domestic taxes or tariffs.
- The index covers a wide range of imported goods and services.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Turkey measures changes in the prices of goods and services imported into the country. It tracks the overall cost of imports.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into international trade dynamics and inflation pressures, which are crucial for policymakers and economists analyzing the Turkish economy.
Q: How is this data collected or calculated?
A: The data is collected by Turkey's national statistical agency through surveys of import prices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the impact of global price movements on the Turkish economy, which can inform trade, monetary, and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Turkish statistical agency, but there may be occasional delays or revisions due to the complexities of tracking import prices.
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Citation
U.S. Federal Reserve, Price Level of Imports for Turkey (PLMCPPTRA670NRUG), retrieved from FRED.