Price Level of GDP, G-K method for Russia
PLOGDPRUA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.02
Year-over-Year Change
101.68%
Date Range
1/1/1990 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Russia measures the relative purchasing power of the Russian ruble across time. This metric is crucial for economists and policymakers to assess Russia's economic growth and development.
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 indicator represents the price level of Russia's Gross Domestic Product using the Geary-Khamis (G-K) international comparison method. The G-K approach provides a standardized way to compare GDP price levels across countries by adjusting for differences in relative prices and purchasing power.
Methodology
The data is calculated by the U.S. Federal Reserve using a multilateral conversion factor approach.
Historical Context
This metric is widely used by economists, analysts, and policymakers to understand Russia's economic performance and competitiveness.
Key Facts
- Russia's GDP price level was 47.7 in 2020 relative to the U.S.
- The G-K method adjusts for differences in relative prices across countries.
- This metric is used to compare economic performance and living standards.
FAQs
Q: What does this economic trend measure?
A: This indicator represents the price level of Russia's Gross Domestic Product using the Geary-Khamis (G-K) international comparison method.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for economists and policymakers to assess Russia's economic growth and development, as well as its competitiveness relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using a multilateral conversion factor approach.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, analysts, and policymakers to understand Russia's economic performance and competitiveness.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the Federal Reserve.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Russia (PLOGDPRUA621NUPN), retrieved from FRED.