Price Level of Government Consumption for Barbados
PLOGINBBA623NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.36
Year-over-Year Change
169.20%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of Government Consumption for Barbados is an economic indicator that measures the general price level of goods and services purchased by the Barbadian government. It is an important metric for evaluating the government's fiscal policies and their impact on the broader economy.
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 index tracks the changes in prices paid by the Barbadian government for a representative basket of goods and services. It provides insights into the purchasing power of the government and can help policymakers assess the effectiveness of fiscal measures aimed at managing government expenditures.
Methodology
The data is collected and calculated by the Barbados Statistical Service based on surveys of government procurement practices.
Historical Context
The Price Level of Government Consumption is closely monitored by economists and policymakers to understand the government's role in the overall Barbadian economy.
Key Facts
- The base year for the index is 2010.
- The index reached its highest level in 2015.
- Government consumption accounts for over 20% of Barbados' GDP.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Barbados measures the general price level of goods and services purchased by the Barbadian government.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the purchasing power of the Barbadian government and can help policymakers assess the effectiveness of fiscal measures aimed at managing government expenditures.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Barbados Statistical Service based on surveys of government procurement practices.
Q: How is this trend used in economic policy?
A: The Price Level of Government Consumption is closely monitored by economists and policymakers to understand the government's role in the overall Barbadian economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Barbados Statistical Service, but may be subject to periodic revisions or updates.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Barbados (PLOGINBBA623NUPN), retrieved from FRED.