Price Level of GDP, G-K method for Niger
PLOGDPNEA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.27
Year-over-Year Change
49.47%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Niger measures the relative purchasing power of the GDP deflator in Niger compared to the United States. This metric is useful for economists and policymakers analyzing cross-country economic competitiveness and standards of living.
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 compares the price level of GDP in Niger to the price level in the United States, using the Geary-Khamis method to calculate international price comparisons. This provides insights into the relative cost of goods and services in Niger compared to the U.S.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to derive multilateral price and volume indexes from national accounts data.
Historical Context
This metric is valuable for policymakers and analysts assessing Niger's economic performance and competitiveness in global markets.
Key Facts
- The G-K price level for Niger was 26.31 in 2021.
- Niger's price level is less than 30% of the U.S. level.
- This indicates significantly lower costs of goods and services in Niger compared to the United States.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Niger measures the relative purchasing power of the GDP deflator in Niger compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the relative cost of goods and services in Niger compared to the U.S., which is valuable for assessing economic competitiveness and standards of living.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to derive multilateral price and volume indexes from national accounts data.
Q: How is this trend used in economic policy?
A: This metric is valuable for policymakers and analysts assessing Niger's economic performance and competitiveness in global markets.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Niger (PLOGDPNEA621NUPN), retrieved from FRED.