Price Level of Government Consumption for Ghana
PLOGINGHA623NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.39
Year-over-Year Change
27.94%
Date Range
1/1/1955 - 1/1/2010
Summary
The Price Level of Government Consumption for Ghana measures the relative purchasing power of government spending in the country. It is an important indicator for economists and policymakers to assess the efficiency and effectiveness of government expenditure.
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 represents the price level of goods and services purchased by the Ghanaian government, compared to a base year. It provides insights into the real purchasing power of government budgets and can inform fiscal policy decisions.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
The price level index is used to evaluate government consumption trends and its impact on the broader economy.
Key Facts
- Ghana's government consumption price level was 74.9 in 2020.
- The index has declined from a high of 83.3 in 2000.
- Lower price levels indicate greater purchasing power for government budgets.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Ghana measures the relative price level of goods and services purchased by the Ghanaian government.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the real purchasing power of government budgets, which is important for evaluating fiscal policy and the efficiency of government spending.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: The price level index is used by economists and policymakers to assess trends in government consumption and its broader economic impact.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Ghana (PLOGINGHA623NUPN), retrieved from FRED.