Price Level of Consumption for Guinea-Bissau
PLOCONGWA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55.06
Year-over-Year Change
17.44%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of Consumption for Guinea-Bissau measures the general price level of goods and services consumed by households in the country. It is an important economic indicator for understanding inflation and consumer 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
This price index represents the average change in prices paid by consumers in Guinea-Bissau for a basket of consumer goods and services. It is used to track changes in the cost of living and guide economic and policy decisions.
Methodology
The data is collected through surveys of consumer prices and expenditures, then calculated using a weighted average formula.
Historical Context
Policymakers and economists use this index to inform monetary and fiscal policies aimed at maintaining price stability and economic growth.
Key Facts
- The base year for the index is 2010 = 100.
- Guinea-Bissau's price level of consumption has risen over 50% since 2010.
- High inflation can erode consumer purchasing power and standards of living.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Guinea-Bissau measures the average change in prices paid by consumers in the country for a basket of goods and services.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of inflation and consumer purchasing power, which are crucial for understanding the state of the Guinean economy and informing economic policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices and expenditures, then calculated using a weighted average formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to inform monetary and fiscal policies aimed at maintaining price stability and economic growth in Guinea-Bissau.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be delays or limitations in data collection and reporting due to the economic conditions in Guinea-Bissau.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Guinea-Bissau (PLOCONGWA622NUPN), retrieved from FRED.