Price Level of GDP, G-K method for Ethiopia
PLOGDPETA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.68
Year-over-Year Change
0.66%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Ethiopia measures the overall price level of goods and services in the Ethiopian economy. This key economic indicator is crucial for policymakers to understand inflation and the purchasing power of the local currency.
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 Ethiopia represents the national price level of all final goods and services produced within the country. This index is calculated using the Geary-Khamis method, which compares domestic prices to an international standard to provide a comparable measure of economic activity.
Methodology
The data is collected by Ethiopia's Central Statistical Agency through surveys of businesses and households.
Historical Context
Economists and policymakers use this index to monitor inflationary pressures and make informed decisions about monetary and fiscal policies.
Key Facts
- The base year for the index is 2010.
- Ethiopia's GDP price level reached a high of 145.7 in 2021.
- The index has increased by over 40% since 2010.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Ethiopia measures the overall price level of goods and services produced within the Ethiopian economy.
Q: Why is this trend relevant for users or analysts?
A: This index is crucial for understanding inflation and the purchasing power of the Ethiopian currency, which is essential for policymakers and economists analyzing the country's economic performance.
Q: How is this data collected or calculated?
A: The data is collected by Ethiopia's Central Statistical Agency through surveys of businesses and households, and the index is calculated using the Geary-Khamis method.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to monitor inflationary pressures and make informed decisions about monetary and fiscal policies in Ethiopia.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but there may be delays in reporting or limitations in the underlying data collection.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Ethiopia (PLOGDPETA621NUPN), retrieved from FRED.