Price Level of Consumption for Sri Lanka
PLOCONLKA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.32
Year-over-Year Change
31.84%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Consumption for Sri Lanka measures the overall price changes for consumer goods and services in the country. This key indicator provides insights into the country's inflation and purchasing power dynamics.
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 Sri Lanka is a comprehensive measure of the average change in prices paid by consumers for a basket of goods and services. It is a vital economic indicator used by policymakers, analysts, and businesses to understand inflationary pressures and consumer spending patterns in the Sri Lankan economy.
Methodology
The data is collected through comprehensive surveys of consumer prices across Sri Lanka and calculated using a weighted average methodology.
Historical Context
The Price Level of Consumption is closely monitored by the Central Bank of Sri Lanka and international institutions to inform monetary and fiscal policy decisions.
Key Facts
- The base year for the Price Level of Consumption for Sri Lanka is 2015.
- Sri Lanka's price level of consumption has risen by over 50% since 2015.
- Consumer prices are a key input for Sri Lanka's central bank in setting monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Sri Lanka measures the overall 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 indicator provides crucial insights into inflationary pressures and purchasing power dynamics in the Sri Lankan economy, informing policymaking and business decisions.
Q: How is this data collected or calculated?
A: The data is collected through comprehensive surveys of consumer prices across Sri Lanka and calculated using a weighted average methodology.
Q: How is this trend used in economic policy?
A: The Price Level of Consumption is closely monitored by the Central Bank of Sri Lanka and international institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve with minimal delays, providing timely insights into Sri Lanka's consumer price dynamics.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Sri Lanka (PLOCONLKA622NUPN), retrieved from FRED.