Price Level of GDP, G-K method for Australia
PLOGDPAUA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.85
Year-over-Year Change
47.74%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Australia measures the overall price level of the Australian economy's gross domestic product. This key metric provides insight into inflationary pressures and the purchasing power of the Australian dollar.
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 GDP, G-K method for Australia is an index that captures the average price paid for all final goods and services produced within the Australian economy. The G-K method refers to the statistical technique used to calculate this price level, which adjusts for differences in the relative prices of goods and services over time.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics using a chain-weighted GDP deflator.
Historical Context
This price level index is used by policymakers, economists, and investors to assess inflationary trends and the overall state of the Australian economy.
Key Facts
- The base year for the index is 2012.
- The index has increased by 12.4% since 2015.
- This metric helps inform the Reserve Bank of Australia's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Australia measures the overall price level of goods and services produced in the Australian economy.
Q: Why is this trend relevant for users or analysts?
A: This price level index provides important insights into inflationary pressures and the purchasing power of the Australian dollar, which are key considerations for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics using a chain-weighted GDP deflator methodology.
Q: How is this trend used in economic policy?
A: The Price Level of GDP, G-K method for Australia is used by the Reserve Bank of Australia and other policymakers to assess inflationary trends and inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Australia (PLOGDPAUA621NUPN), retrieved from FRED.