Price Level of Consumption for Republic of Korea
PLOCONKRA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.60
Year-over-Year Change
34.74%
Date Range
1/1/1953 - 1/1/2010
Summary
The Price Level of Consumption for Republic of Korea measures the level of consumer prices in the South Korean economy. This important economic indicator helps analysts and policymakers assess the purchasing power and inflationary pressures facing Korean households.
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 Republic of Korea is an index that tracks the average change in prices paid by Korean consumers for a basket of goods and services. It is a key macroeconomic indicator used to monitor inflation and evaluate the effectiveness of monetary and fiscal policies.
Methodology
This index is calculated by the Bank of Korea using a survey of prices from a representative sample of consumer purchases.
Historical Context
Trends in the price level are closely watched by the Bank of Korea and international economic institutions to guide policy decisions.
Key Facts
- South Korea is the 12th largest economy in the world.
- Consumer spending accounts for over 50% of Korea's GDP.
- The Bank of Korea targets 2% annual inflation.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Republic of Korea measures the average change in prices paid by Korean consumers for a basket of common goods and services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into inflationary pressures, consumer purchasing power, and the overall health of the South Korean economy.
Q: How is this data collected or calculated?
A: The Bank of Korea calculates this index based on a survey of prices from a representative sample of consumer purchases.
Q: How is this trend used in economic policy?
A: The Korean central bank and international institutions closely monitor this price index to guide monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Price Level of Consumption data is released monthly with a lag of several weeks.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Republic of Korea (PLOCONKRA622NUPN), retrieved from FRED.