Price Level of GDP, G-K method for Grenada
PLOGDPGDA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.75
Year-over-Year Change
32.42%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Grenada measures the relative price level of Grenada's Gross Domestic Product using the Geary-Khamis method. This metric is important for economists and policymakers to assess the country's economic development and competitiveness.
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 Grenada represents the ratio of Grenada's GDP in current local currency to its GDP in constant 2017 international dollars. This provides insight into the purchasing power and standard of living within the country compared to other economies.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert local currency GDP to comparable international dollars.
Historical Context
This metric is used by economists, analysts, and policymakers to evaluate Grenada's economic performance and competitiveness within the global marketplace.
Key Facts
- Grenada's GDP price level was 55.7 in 2021.
- The price level has increased by 10% since 2010.
- Grenada's price level is 44.3% of the global average.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Grenada measures the relative price level of the country's Gross Domestic Product using the Geary-Khamis method of international price comparisons.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Grenada's economic development and purchasing power relative to other countries, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert local currency GDP to comparable international dollars.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to evaluate Grenada's economic performance and competitiveness within the global marketplace.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Grenada (PLOGDPGDA621NUPN), retrieved from FRED.