Price Level of GDP, G-K method for Guyana
PLOGDPGYA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.59
Year-over-Year Change
15.93%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Guyana measures the relative price level of GDP in Guyana compared to a base year. This is a key economic indicator for understanding Guyana's economic performance 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 Guyana is an index that compares the price level of GDP in Guyana to a base year. It provides insights into the purchasing power and inflation trends within the Guyanese economy.
Methodology
The data is calculated by the World Bank using the Geary-Khamis (G-K) method to compare price levels across countries.
Historical Context
This trend is used by policymakers, analysts, and investors to assess Guyana's economic competitiveness and make informed decisions.
Key Facts
- The base year for the index is 2017.
- Guyana's price level of GDP was 58.91 in 2021.
- The index can range from 0 to 100 or more.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Guyana measures the relative price level of GDP in Guyana compared to a base year, providing insights into the country's purchasing power and inflation trends.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, analysts, and investors to assess Guyana's economic competitiveness and make informed decisions about the country's economic performance and prospects.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis (G-K) method to compare price levels across countries.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and investors to evaluate Guyana's economic competitiveness and make informed decisions about the country's economic performance and prospects.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and potential limitations in data collection or methodology.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Guyana (PLOGDPGYA621NUPN), retrieved from FRED.