Price Level of GDP, G-K method for Solomon Islands
PLOGDPSBA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.38
Year-over-Year Change
16.27%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Solomon Islands measures the overall price level of goods and services produced within the Solomon Islands economy. This metric is crucial for economists and policymakers to assess inflation and purchasing power in the country.
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 is an index that tracks changes in the overall price level of domestic goods and services produced in the Solomon Islands. It is a key economic indicator used to measure and monitor inflation, which is essential for effective fiscal and monetary policy decisions.
Methodology
The data is calculated by the World Bank using the Geary-Khamis (G-K) method, which adjusts for differences in purchasing power across countries.
Historical Context
Policymakers and analysts utilize this metric to gauge the state of the Solomon Islands economy and inform macroeconomic policy decisions.
Key Facts
- The Price Level of GDP is measured with 2017 as the base year.
- The index value was 113.99 in 2021, indicating a 13.99% increase in prices since 2017.
- Solomon Islands is a small island nation in the South Pacific Ocean.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Solomon Islands measures the overall price level of goods and services produced within the Solomon Islands economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for economists and policymakers to assess inflation and purchasing power in the Solomon Islands, which is essential for effective fiscal and monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis (G-K) method, which adjusts for differences in purchasing power across countries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this metric to gauge the state of the Solomon Islands economy and inform macroeconomic policy decisions.
Q: Are there update delays or limitations?
A: The data is published by the World Bank and may be subject to update delays or limitations common to international economic datasets.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Solomon Islands (PLOGDPSBA621NUPN), retrieved from FRED.