Price Level of GDP, G-K method for Bermuda
PLOGDPBMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
169.70
Year-over-Year Change
7.27%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Bermuda measures the relative price level of goods and services in Bermuda's economy compared to a reference period. This metric is important for economists and policymakers to assess Bermuda's economic competitiveness and living standards.
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 Bermuda is an index that compares the overall price level in Bermuda to a reference level, providing insights into the country's relative cost of living and economic competitiveness. It is a key indicator used to evaluate Bermuda's macroeconomic performance and purchasing power parity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the Geary-Khamis method to aggregate price data for various goods and services in Bermuda.
Historical Context
Policymakers and analysts use this metric to inform decisions about trade, investment, and economic development strategies in Bermuda.
Key Facts
- Bermuda's price level is above the U.S. reference level.
- The index has declined from a high of 131.2 in 2010 to 121.5 in 2021.
- High prices in Bermuda are driven by factors like import costs and limited domestic production.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Bermuda measures the relative price level of goods and services in Bermuda's economy compared to a reference period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Bermuda's economic competitiveness and living standards, which is important for informing trade, investment, and economic development decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the Geary-Khamis method to aggregate price data for various goods and services in Bermuda.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Bermuda's macroeconomic performance and make informed decisions about the country's economic strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and the Geary-Khamis method may not fully capture all factors influencing Bermuda's price level.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Bermuda (PLOGDPBMA621NUPN), retrieved from FRED.