Price Level of GDP, G-K method for Jamaica
PLOGDPJMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.89
Year-over-Year Change
7.43%
Date Range
1/1/1953 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Jamaica measures the overall price level of the Jamaican economy's Gross Domestic Product. This metric is crucial for assessing the country's economic performance and supporting policy decisions.
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 is an index that tracks changes in the average prices of all goods and services produced within Jamaica's economy. It provides a comprehensive view of inflationary pressures and is used by economists and policymakers to evaluate the economy's health and determine appropriate fiscal and monetary policies.
Methodology
The data is calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method, which compares price levels across countries.
Historical Context
This trend is closely monitored by the Bank of Jamaica and international institutions to inform economic policy and investment decisions.
Key Facts
- Jamaica's Price Level of GDP, G-K method was 58.78 in 2021.
- This index has increased by 23% over the past decade.
- The G-K method adjusts for differences in purchasing power across countries.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Jamaica measures the overall price level of the country's Gross Domestic Product, providing a comprehensive view of inflationary pressures in the economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for assessing Jamaica's economic performance and supporting policy decisions, as it helps economists and policymakers evaluate the health of the economy and determine appropriate fiscal and monetary policies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method, which compares price levels across countries.
Q: How is this trend used in economic policy?
A: The Price Level of GDP, G-K method for Jamaica is closely monitored by the Bank of Jamaica and international institutions to inform economic policy and investment decisions.
Q: Are there update delays or limitations?
A: The data is subject to the timely reporting and availability of national accounts information from Jamaica.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Jamaica (PLOGDPJMA621NUPN), retrieved from FRED.