Price Level of GDP, G-K method for Eritrea
PLOGDPERA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55.15
Year-over-Year Change
117.38%
Date Range
1/1/1992 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Eritrea measures the overall price level of goods and services produced within Eritrea's economy. This metric is important for economists and policymakers in understanding the country's inflation dynamics and purchasing power.
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 Eritrea is an index that reflects the average price level of all final goods and services that make up the Gross Domestic Product (GDP) of Eritrea. It is calculated using the Geary-Khamis (G-K) method, a statistical technique for international price and volume comparisons.
Methodology
The data is collected and calculated by the World Bank based on national accounts information.
Historical Context
This metric is used by economists, policymakers, and international institutions to assess Eritrea's economic performance and inflationary pressures.
Key Facts
- Eritrea's GDP price level was 0.62 in 2020.
- The G-K method adjusts for differences in purchasing power across countries.
- This metric can be used to compare Eritrea's prices to other economies.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Eritrea measures the overall price level of goods and services produced within Eritrea's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Eritrea's inflation dynamics and purchasing power, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts information.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and international institutions to assess Eritrea's economic performance and inflationary pressures.
Q: Are there update delays or limitations?
A: The data may have update delays due to the time required for national accounts information to be compiled and reported.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Eritrea (PLOGDPERA621NUPN), retrieved from FRED.