Price Level of Consumption for Guyana
PLOCONGYA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66.48
Year-over-Year Change
15.69%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Consumption for Guyana tracks changes in the overall price level of goods and services consumed by households in Guyana. This metric is important for policymakers and economists to understand the country's inflationary pressures.
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 Guyana is an index that measures the average change in prices paid by consumers for a basket of goods and services. It is a key indicator of the overall cost of living and purchasing power within the Guyanese economy.
Methodology
The data is collected through surveys of household expenditures and prices by the Guyanese Bureau of Statistics.
Historical Context
This metric is used by the Central Bank of Guyana and international institutions to monitor inflation and make informed policy decisions.
Key Facts
- The base year for the index is 2010.
- Guyana's price level of consumption has risen by 40% since 2010.
- High inflation is a persistent challenge for the Guyanese economy.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Guyana measures the average change in prices paid by consumers for a basket of goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the overall cost of living and purchasing power in the Guyanese economy, which informs policy decisions by the Central Bank and other institutions.
Q: How is this data collected or calculated?
A: The data is collected through household expenditure surveys and price monitoring by the Guyanese Bureau of Statistics.
Q: How is this trend used in economic policy?
A: The Price Level of Consumption for Guyana is used by the Central Bank and policymakers to monitor inflation and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the index may not capture all aspects of household consumption in Guyana.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Guyana (PLOCONGYA622NUPN), retrieved from FRED.