Price Level of Consumption for Ethiopia
PLOCONETA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.84
Year-over-Year Change
4.15%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Consumption for Ethiopia measures the relative cost of consumer goods and services in the country compared to the global average. This metric is important for economists and policymakers to assess Ethiopia's cost of living 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 for Ethiopia is an index that compares the prices of a standardized basket of consumer goods and services in Ethiopia to the global average. It provides insight into the overall affordability of consumer expenditures within the Ethiopian economy.
Methodology
The data is calculated by the World Bank based on price surveys and national accounts.
Historical Context
This metric is used by analysts and policymakers to evaluate Ethiopia's economic competitiveness and cost of living relative to other countries.
Key Facts
- Ethiopia's price level was 36% of the global average in 2020.
- The price level has risen gradually from 31% in 2010.
- Low price levels indicate Ethiopia has a relatively low cost of living.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Ethiopia measures the relative cost of consumer goods and services in the country compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Ethiopia's cost of living and purchasing power, which is relevant for evaluating the country's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank based on price surveys and national accounts.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess Ethiopia's economic competitiveness and cost of living relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may not fully capture rapid changes in the cost of living.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Ethiopia (PLOCONETA622NUPN), retrieved from FRED.