Price Level of Consumption for Latvia
PLOCONLVA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.98
Year-over-Year Change
58.72%
Date Range
1/1/1993 - 1/1/2010
Summary
The Price Level of Consumption for Latvia is an economic indicator that measures the relative price level of consumer goods and services in Latvia compared to a reference group.
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 index provides insights into the purchasing power and cost of living in Latvia relative to other countries or regions. It is a useful metric for assessing the competitiveness of the Latvian economy and consumer market.
Methodology
The data is calculated by the International Monetary Fund using a complex basket of consumer goods and services.
Historical Context
Policymakers and businesses use this index to analyze trade competitiveness and make informed decisions about investment, pricing, and expansion.
Key Facts
- Latvia's price level is currently 62.2% of the global reference group.
- The index has increased by 8.3% over the past 5 years.
- Latvia's price level is lower than the European Union average.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Latvia measures the relative price level of consumer goods and services in the country compared to a global reference group.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the purchasing power and cost of living in Latvia, which is useful for assessing the country's economic competitiveness and consumer market.
Q: How is this data collected or calculated?
A: The data is calculated by the International Monetary Fund using a complex basket of consumer goods and services.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this index to analyze trade competitiveness and make informed decisions about investment, pricing, and expansion in the Latvian market.
Q: Are there update delays or limitations?
A: The data is published regularly by the International Monetary Fund, with some potential for delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Latvia (PLOCONLVA622NUPN), retrieved from FRED.