Price Level of Consumption for Liberia
PLOCONLRA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.93
Year-over-Year Change
-4.55%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of Consumption for Liberia (PLOCONLRA622NUPN) measures the cost of consumer goods and services in Liberia. This metric is important for analyzing Liberian economic conditions and comparing purchasing power across countries.
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 Liberia is an index that reflects the relative cost of consumer goods and services in Liberia compared to the global average. It is used to assess the affordability of living standards and compare the purchasing power of Liberian consumers to other economies.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers and analysts use this metric to evaluate Liberia's economic competitiveness and the standard of living for Liberian households.
Key Facts
- Liberia's price level was 36.2% of the global average in 2020.
- The price level has increased by 7.4% since 2015.
- Liberia has the 10th lowest price level among African countries.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Liberia measures the relative cost of consumer goods and services in Liberia compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing Liberia's economic competitiveness and the purchasing power of Liberian consumers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Liberia's standard of living and compare it to other economies.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture rapid changes in the Liberian economy.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Liberia (PLOCONLRA622NUPN), retrieved from FRED.