Price Level of Government Consumption for Sri Lanka
PLOGINLKA623NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.07
Year-over-Year Change
52.66%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Government Consumption for Sri Lanka tracks changes in the cost of goods and services purchased by the Sri Lankan government. This metric is crucial for understanding government spending and fiscal policy.
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 Government Consumption is an index that measures the average change in prices paid by the Sri Lankan government for its consumption expenditures, such as public administration, defense, and healthcare. It serves as an important indicator of inflationary pressures on government budgets.
Methodology
The data is collected through surveys of government agencies and compiled by the International Monetary Fund.
Historical Context
Policymakers and economists use this trend to assess the impact of inflation on the government's ability to provide public services and programs.
Key Facts
- The index is based on 2015 as the base year.
- Sri Lanka's government consumption accounts for approximately 7% of its GDP.
- The trend has shown increased volatility since the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Sri Lanka measures the average change in prices paid by the Sri Lankan government for its consumption expenditures, such as public administration, defense, and healthcare.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding inflationary pressures on government budgets and the impact on the government's ability to provide public services and programs.
Q: How is this data collected or calculated?
A: The data is collected through surveys of government agencies and compiled by the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the impact of inflation on government spending and to inform fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and data collection methods of the International Monetary Fund, which may result in occasional delays or limitations in the availability of the most recent data.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Sri Lanka (PLOGINLKA623NUPN), retrieved from FRED.