Price Level of GDP, G-K method for Papua New Guinea
PLOGDPPGA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44.25
Year-over-Year Change
4.86%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Papua New Guinea measures the overall price level of goods and services produced within the country. This key economic indicator provides insights into inflation and purchasing power 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 the Gross Domestic Product (GDP) in Papua New Guinea, calculated using the Geary-Khamis (G-K) international price comparison method. The G-K method allows for cross-country comparisons of price levels and purchasing power parity.
Methodology
The data is collected by Papua New Guinea's National Statistical Office and calculated according to international statistical standards.
Historical Context
Policymakers and economists use this price level index to assess inflationary pressures and make informed decisions about monetary and fiscal policies.
Key Facts
- Papua New Guinea's price level index was 46.58 in 2020.
- The G-K price level index ranges from 0 to 100, with 100 representing the global average.
- This metric is updated annually by the National Statistical Office.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Papua New Guinea measures the overall price level of goods and services produced within the country. It provides a way to compare purchasing power across different economies.
Q: Why is this trend relevant for users or analysts?
A: This price level index is important for assessing inflationary pressures, making cross-country comparisons, and informing economic policy decisions in Papua New Guinea.
Q: How is this data collected or calculated?
A: The data is collected by Papua New Guinea's National Statistical Office and calculated according to the Geary-Khamis international price comparison method.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this price level index to evaluate inflationary trends and make informed decisions about monetary and fiscal policies in Papua New Guinea.
Q: Are there update delays or limitations?
A: This metric is updated annually by the National Statistical Office, with a potential delay of several months between the reference year and the data release.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Papua New Guinea (PLOGDPPGA621NUPN), retrieved from FRED.