Price Level of Consumption for Fiji
PLOCONFJA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.49
Year-over-Year Change
8.78%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of Consumption for Fiji measures the relative cost of consumer goods and services in Fiji compared to a reference year. It is an important indicator for economists and policymakers to understand inflation and purchasing power in the Fijian 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 Fiji is an index that tracks the changes in the general price level of consumer goods and services purchased by households in Fiji. It serves as a benchmark for evaluating the real purchasing power of the Fijian dollar and is used to inform monetary and fiscal policy decisions.
Methodology
The data is collected through surveys of consumer prices and expenditures by the Fiji Bureau of Statistics.
Historical Context
The Price Level of Consumption for Fiji is closely monitored by the Reserve Bank of Fiji and the Fijian government to manage inflation and ensure economic stability.
Key Facts
- The base year for the Price Level of Consumption for Fiji is 2010.
- Fiji is a Pacific island nation and a member of the Commonwealth of Nations.
- The Reserve Bank of Fiji uses the Price Level of Consumption index to set monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Fiji measures the relative cost of consumer goods and services in the country compared to a base year.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the purchasing power of the Fijian dollar and the overall inflation rate in the Fijian economy, which is crucial for economic policymaking and consumer decision-making.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys conducted by the Fiji Bureau of Statistics.
Q: How is this trend used in economic policy?
A: The Price Level of Consumption for Fiji is closely monitored by the Reserve Bank of Fiji and the Fijian government to manage inflation and ensure economic stability.
Q: Are there update delays or limitations?
A: The data is published regularly by the Fiji Bureau of Statistics, but there may be occasional delays or limitations in data collection and reporting.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Fiji (PLOCONFJA622NUPN), retrieved from FRED.