Price Level of GDP, G-K method for Palau
PLOGDPPWA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.56
Year-over-Year Change
21.22%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Palau measures the relative prices of goods and services produced within the Palauan economy. This metric is important for economists and policymakers to assess Palau's cost of living and international 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 Palau is an index that compares the price level of Palau's Gross Domestic Product (GDP) to a reference level, typically the United States. It provides insights into the relative cost of living and production in Palau compared to other countries.
Methodology
The data is calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method, which is a multilateral approach for international price and volume comparisons.
Historical Context
This economic trend is used by policymakers, analysts, and international organizations to evaluate Palau's economic performance and competitiveness within the global market.
Key Facts
- Palau's Price Level of GDP was 102.75 in 2021.
- The index has remained relatively stable over the past decade.
- A higher index indicates a higher cost of living in Palau compared to the reference country.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Palau measures the relative prices of goods and services produced within the Palauan economy compared to a reference country, typically the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Palau's cost of living and international competitiveness, which are important considerations for businesses, policymakers, and individuals making economic decisions.
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, a multilateral approach for international price and volume comparisons.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and international organizations use this trend to evaluate Palau's economic performance and competitiveness within the global market, informing decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be limitations in the availability or coverage of certain economic sectors within Palau.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Palau (PLOGDPPWA621NUPN), retrieved from FRED.