Price Level of Consumption for Australia
PLOCONAUA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.97
Year-over-Year Change
51.89%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Consumption for Australia measures the general price level of consumer goods and services in the Australian economy. This key inflation indicator is closely watched by policymakers and analysts to assess cost-of-living 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
This series represents the price index for total personal consumption expenditures in Australia, including durable and non-durable goods as well as services. It is a broad measure of consumer inflation and a core component of the national accounts.
Methodology
The data is calculated by the Australian Bureau of Statistics based on a representative basket of consumer items.
Historical Context
The price level of consumption is a vital input for the Reserve Bank of Australia's monetary policy decisions.
Key Facts
- The index uses 2010 as the base year.
- It covers around 700 individual consumer goods and services.
- The data is released quarterly by the Australian Bureau of Statistics.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Australia measures the general price level of consumer goods and services purchased by Australian households.
Q: Why is this trend relevant for users or analysts?
A: This inflation indicator is closely watched by policymakers, businesses, and consumers to assess cost-of-living pressures and inform economic decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the Australian Bureau of Statistics based on a representative basket of consumer items.
Q: How is this trend used in economic policy?
A: The price level of consumption is a vital input for the Reserve Bank of Australia's monetary policy decisions, as it helps gauge inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Australian Bureau of Statistics, with a typical release lag of around 2-3 months.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Australia (PLOCONAUA622NUPN), retrieved from FRED.