Price Level of Consumption for Rwanda
PLOCONRWA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.23
Year-over-Year Change
-4.24%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of Consumption for Rwanda measures the domestic price level of consumer goods and services in the country. This metric is critical for economists and policymakers to understand the affordability of basic necessities and overall cost of living.
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 Rwanda is an index that tracks the changes in prices paid by Rwandan consumers for a representative basket of goods and services. It serves as an important indicator of inflation and purchasing power within the Rwandan economy.
Methodology
The data is collected and calculated by the National Institute of Statistics of Rwanda based on surveys of consumer expenditures.
Historical Context
Monitoring this price level trend helps the Rwandan government and central bank formulate appropriate monetary and fiscal policies to maintain economic stability.
Key Facts
- The base year for the Rwanda Price Level of Consumption index is 2010.
- In 2021, the price level index reached 165.8, indicating a 65.8% increase since 2010.
- Food and non-alcoholic beverages make up the largest share of the consumption basket at 42.5%.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Rwanda measures the overall domestic price level of consumer goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the cost of living and purchasing power within the Rwandan economy, which informs economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the National Institute of Statistics of Rwanda based on surveys of consumer expenditures.
Q: How is this trend used in economic policy?
A: Monitoring this price level trend helps the Rwandan government and central bank formulate appropriate monetary and fiscal policies to maintain economic stability.
Q: Are there update delays or limitations?
A: The data is published regularly by the Rwandan statistical agency, but there may be some delays in data availability and potential limitations in survey coverage.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Rwanda (PLOCONRWA622NUPN), retrieved from FRED.