Price Level of Government Consumption for Benin
PLOGINBJA623NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.77
Year-over-Year Change
18.30%
Date Range
1/1/1959 - 1/1/2010
Summary
The Price Level of Government Consumption for Benin measures the price index for government spending in the country. It is a key indicator for economists and policymakers to assess the cost of public services and the government's fiscal position.
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 economic series tracks the price level of goods and services purchased by the government of Benin. It is used to analyze the relative prices faced by the public sector compared to the overall economy, which can inform fiscal and budgetary decisions.
Methodology
The data is compiled by the World Bank using national accounts and government expenditure data.
Historical Context
Governments monitor this metric to evaluate inflationary pressures and the efficiency of public spending.
Key Facts
- Benin is a West African country with a population of over 12 million.
- Government consumption accounts for around 10% of Benin's GDP.
- The price level for government consumption has risen steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Benin measures the prices paid by the government for goods and services, providing insight into public sector inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the fiscal position and budgetary pressures facing the Beninese government, which can impact overall economic performance and policy decisions.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank using national accounts and government expenditure information.
Q: How is this trend used in economic policy?
A: Governments and policymakers use this indicator to assess inflationary pressures on public spending, which can inform fiscal policy, budget allocations, and the provision of public services.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of 1-2 years, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Benin (PLOGINBJA623NUPN), retrieved from FRED.