Price Level of GDP, G-K method for Singapore
PLOGDPSGA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79.86
Year-over-Year Change
-0.01%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Singapore measures the relative price level of gross domestic product in Singapore compared to the United States. This metric is crucial for economists and policymakers to understand the purchasing power and cost of living in Singapore.
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 Singapore to the price level in the United States, which has a value of 100. This helps assess the relative cost of goods and services in Singapore compared to the U.S. and is an important indicator for international comparisons and trade policy.
Methodology
The data is calculated by the Federal Reserve using the Geary-Khamis (G-K) method to derive purchasing power parities.
Historical Context
This trend is widely used by economists, investors, and policymakers to evaluate Singapore's economic competitiveness and cost of living relative to other countries.
Key Facts
- Singapore's GDP price level was 78.47 in 2021 relative to the U.S. at 100.
- The price level has fluctuated between 75-85 over the past decade.
- This metric helps assess Singapore's cost competitiveness for trade and investment.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Singapore measures the relative price level of gross domestic product in Singapore compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for economists and policymakers to understand the purchasing power and cost of living in Singapore relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve using the Geary-Khamis (G-K) method to derive purchasing power parities.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, investors, and policymakers to evaluate Singapore's economic competitiveness and cost of living relative to other countries.
Q: Are there update delays or limitations?
A: The data is updated annually with a slight delay, and may not fully capture short-term price fluctuations.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Singapore (PLOGDPSGA621NUPN), retrieved from FRED.