Price Level of Consumption for Barbados
PLOCONBBA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.22
Year-over-Year Change
-0.84%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of Consumption for Barbados measures the overall price changes for consumer goods and services in Barbados. It is a key indicator of inflation and consumer purchasing power in the Barbadian 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 Consumption for Barbados is an index that tracks the changing prices of a representative basket of consumer goods and services in Barbados. It is used to assess the cost of living and purchasing power over time, and serves as a critical input for policymakers and economists analyzing economic conditions.
Methodology
The data is collected through surveys of Barbadian consumers and businesses, and calculated using a weighted average of price changes for different categories of consumer expenditures.
Historical Context
The Price Level of Consumption for Barbados is closely monitored by the Central Bank of Barbados and other government agencies to inform monetary and fiscal policy decisions.
Key Facts
- Barbados is a small island nation in the Caribbean.
- The Price Level of Consumption index was first published in 1984.
- Inflation in Barbados has averaged around 4% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Barbados measures the average change in prices for a basket of consumer goods and services in the Barbadian economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of inflation and purchasing power in Barbados, and is closely watched by policymakers, economists, and consumers alike.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Barbadian consumers and businesses, and calculated using a weighted average of price changes for different categories of consumer expenditures.
Q: How is this trend used in economic policy?
A: The Price Level of Consumption for Barbados is used by the Central Bank of Barbados and other government agencies to inform monetary and fiscal policy decisions aimed at managing inflation and promoting economic stability.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical delay of 4-6 weeks between the reference period and the data release.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Barbados (PLOCONBBA622NUPN), retrieved from FRED.