Price Level of Imports for United Republic of Tanzania
PLMCPPTZA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.62
Year-over-Year Change
9.21%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Imports for United Republic of Tanzania tracks changes in the prices of goods and services imported into the country. This metric is crucial for understanding Tanzania's trade dynamics and economic performance.
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 index measures the price changes of a representative basket of goods and services imported into Tanzania. It is an important indicator of the country's international competitiveness and can inform policy decisions related to trade, exchange rates, and domestic industries.
Methodology
The data is collected by Tanzania's National Bureau of Statistics through surveys of importers and customs records.
Historical Context
Policymakers use this index to assess the impact of exchange rate fluctuations, tariffs, and other trade policies on the Tanzanian economy.
Key Facts
- Tanzania is a major importer of goods and services.
- The price level of imports can impact domestic inflation and consumer purchasing power.
- Monitoring import prices helps policymakers manage trade balances and exchange rates.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for United Republic of Tanzania tracks changes in the prices of goods and services imported into the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding Tanzania's trade dynamics and economic performance, as import prices can impact domestic inflation, consumer purchasing power, and trade balances.
Q: How is this data collected or calculated?
A: The data is collected by Tanzania's National Bureau of Statistics through surveys of importers and customs records.
Q: How is this trend used in economic policy?
A: Policymakers use this index to assess the impact of exchange rate fluctuations, tariffs, and other trade policies on the Tanzanian economy.
Q: Are there update delays or limitations?
A: The data is published with a short delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Price Level of Imports for United Republic of Tanzania (PLMCPPTZA670NRUG), retrieved from FRED.