Price Level of Consumption for Senegal
PLOCONSNA622NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.73
Year-over-Year Change
14.21%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of Consumption for Senegal (PLOCONSNA622NUPN) measures the overall price level of consumer goods and services in Senegal. This key economic indicator helps policymakers and analysts assess Senegal's cost of living and inflationary pressures.
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 Senegal is an index that tracks the average change in prices paid by consumers for a basket of goods and services. It is used to monitor inflation and purchasing power within Senegal's domestic economy.
Methodology
The data is collected through surveys of consumer expenditures and prices by Senegal's national statistical agency.
Historical Context
Trends in the price level of consumption are closely watched by the Central Bank of West African States for monetary policy decisions.
Key Facts
- The base year for the index is 2010.
- Senegal's price level of consumption rose 2.1% in 2021.
- Food and housing are the largest components of the consumption basket.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Consumption for Senegal measures the average change in prices paid by consumers for a basket of goods and services in Senegal.
Q: Why is this trend relevant for users or analysts?
A: This indicator helps policymakers and economists assess inflationary pressures, cost of living, and purchasing power within Senegal's domestic economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer expenditure and pricing surveys conducted by Senegal's national statistical agency.
Q: How is this trend used in economic policy?
A: The Central Bank of West African States closely monitors the price level of consumption in Senegal to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The price level data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Price Level of Consumption for Senegal (PLOCONSNA622NUPN), retrieved from FRED.