Price Level of Consumption for Guatemala
PLOCONGTA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.32
Year-over-Year Change
20.41%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Consumption for Guatemala is an important economic indicator that measures the overall price level of consumer goods and services in the country. It is a key metric for evaluating the purchasing power of Guatemalan consumers and the overall cost of living.
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 Guatemala is an index that tracks the changes in the average prices paid by consumers for a basket of commonly purchased goods and services. It provides insights into inflationary pressures and the affordability of consumer expenditures within the Guatemalan economy.
Methodology
The data is collected through surveys of Guatemalan households and businesses, and the index is calculated using a weighted average of price changes for different consumption categories.
Historical Context
Policymakers and economists use this trend to inform decisions about monetary and fiscal policy, as well as to assess the standard of living and competitiveness of the Guatemalan market.
Key Facts
- The base year for the Price Level of Consumption for Guatemala is 2010.
- The index measures price changes for a basket of over 300 consumer goods and services.
- Guatemala's Price Level of Consumption has increased by an average of 4.2% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Guatemala measures the overall price level of consumer goods and services in the country. It tracks changes in the average prices paid by Guatemalan consumers.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of inflationary pressures and the affordability of consumer expenditures in Guatemala, providing insights that are crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Guatemalan households and businesses, and the index is calculated using a weighted average of price changes for different consumption categories.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to inform decisions about monetary and fiscal policy, as well as to assess the standard of living and competitiveness of the Guatemalan market.
Q: Are there update delays or limitations?
A: The Price Level of Consumption for Guatemala data is typically published with a 1-2 month delay, and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Guatemala (PLOCONGTA622NUPN), retrieved from FRED.