Price Level of Government Consumption for Puerto Rico
PLOGINPRA623NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.61
Year-over-Year Change
11.37%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Government Consumption for Puerto Rico measures the inflation rate for government spending in Puerto Rico. It is a key indicator for evaluating the fiscal health and economic conditions of the territory.
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 series represents the price index for all government consumption expenditures in Puerto Rico, including spending on public services, infrastructure, and social programs. It is used by economists and policymakers to assess the cost burden on the government budget and the overall cost of living in the territory.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of government agencies and contractors.
Historical Context
Trends in the price level of government consumption are closely monitored by the Federal Reserve and Congressional budget committees to inform fiscal and monetary policy decisions.
Key Facts
- Government consumption accounts for over 20% of Puerto Rico's GDP.
- Prices for government goods and services in Puerto Rico have risen over 30% in the past decade.
- High government spending and costs contribute to Puerto Rico's large fiscal deficits.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Puerto Rico measures the inflation rate for all government spending, including public services, infrastructure, and social programs in the territory.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in the price level of government consumption is critical for evaluating Puerto Rico's fiscal health, cost of living, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of government agencies and contractors in Puerto Rico.
Q: How is this trend used in economic policy?
A: Trends in the price level of government consumption are closely monitored by the Federal Reserve and Congressional budget committees to inform fiscal and monetary policy decisions affecting Puerto Rico.
Q: Are there update delays or limitations?
A: There can be lags of several months in the reporting of this data due to the complexities of surveying government expenditures across Puerto Rico.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Puerto Rico (PLOGINPRA623NUPN), retrieved from FRED.