Price Level of Consumption for Bulgaria
PLOCONBGA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.19
Year-over-Year Change
49.63%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of Consumption for Bulgaria measures the relative cost of consumer goods and services in the country compared to other nations. This metric is important for economists and policymakers to assess the country's competitiveness and purchasing power.
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 (PLC) tracks the price level of a basket of consumer goods and services in Bulgaria relative to the OECD average. It provides insight into the cost of living and purchasing power within the country compared to international standards.
Methodology
The PLC is calculated by the OECD based on price surveys and expenditure data.
Historical Context
Policymakers use the PLC to evaluate economic performance and competitiveness, while analysts monitor it to assess consumer affordability and purchasing power dynamics.
Key Facts
- Bulgaria's PLC was 47.2 in 2021, meaning consumer prices were 52.8% lower than the OECD average.
- The PLC has risen from 44.5 in 2015, indicating gradual price convergence with other developed economies.
- Low PLC reflects Bulgaria's relatively low cost of living compared to wealthier OECD member states.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption (PLC) for Bulgaria measures the relative cost of consumer goods and services in the country compared to the OECD average.
Q: Why is this trend relevant for users or analysts?
A: The PLC provides insight into Bulgaria's consumer price competitiveness and purchasing power dynamics, which is useful for evaluating the country's economic performance and living standards.
Q: How is this data collected or calculated?
A: The OECD calculates the PLC based on price surveys and expenditure data for a representative basket of consumer goods and services.
Q: How is this trend used in economic policy?
A: Policymakers monitor the PLC to assess Bulgaria's cost competitiveness and the affordability of consumer goods, which informs decisions around economic, fiscal, and social policies.
Q: Are there update delays or limitations?
A: The PLC data is published annually by the OECD, so there may be a 1-year delay in the most recent figures. The metric also does not capture all aspects of the cost of living, such as housing and utility costs.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Bulgaria (PLOCONBGA622NUPN), retrieved from FRED.