Price Level of GDP, G-K method for Mongolia
PLOGDPMNA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.05
Year-over-Year Change
63.31%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Mongolia measures the relative purchasing power of the Mongolian currency. It is an important economic indicator for assessing the country's price levels and inflation trends.
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
This series represents the price level of Mongolia's Gross Domestic Product (GDP) using the Geary-Khamis (G-K) international price comparison method. The G-K approach allows for cross-country comparisons of real economic output by adjusting for differences in relative prices.
Methodology
The data is calculated by the United Nations Statistics Division using a multilateral price index approach.
Historical Context
Policymakers and analysts use this metric to evaluate Mongolia's economic competitiveness and the real purchasing power of its currency.
Key Facts
- Mongolia's GDP price level was 58.3 in 2020.
- The G-K price index adjusts for differences in national price levels.
- This metric is used to compare real economic output across countries.
FAQs
Q: What does this economic trend measure?
A: This series measures the price level of Mongolia's Gross Domestic Product (GDP) using the Geary-Khamis (G-K) international price comparison method.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for evaluating Mongolia's economic competitiveness and the real purchasing power of its currency.
Q: How is this data collected or calculated?
A: The data is calculated by the United Nations Statistics Division using a multilateral price index approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Mongolia's price levels and inflation trends.
Q: Are there update delays or limitations?
A: There may be some time lag in data availability, as the G-K price index relies on international price comparisons.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Mongolia (PLOGDPMNA621NUPN), retrieved from FRED.