Consumer Price Index for Papua New Guinea
DDOE01PGA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
147.74
Year-over-Year Change
90.43%
Date Range
1/1/1970 - 1/1/2017
Summary
The Consumer Price Index (CPI) for Papua New Guinea measures changes in the average cost of consumer goods and services. It is a key indicator of inflation and an important metric for policymakers and economists.
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 CPI for Papua New Guinea tracks the prices of a basket of consumer goods and services that are representative of typical household expenditures. It is used to assess changes in the cost of living and inform monetary and fiscal policy decisions.
Methodology
The data is collected through surveys of consumer prices and calculated as a weighted average of price changes.
Historical Context
The CPI is closely monitored by the Central Bank of Papua New Guinea and other analysts to gauge inflationary pressures and guide economic policy.
Key Facts
- Papua New Guinea's CPI has risen by an average of 5% annually over the past decade.
- The CPI basket includes food, housing, transportation, and other major household expenditures.
- The Central Bank of Papua New Guinea targets an annual inflation rate of 2-4% to maintain price stability.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Papua New Guinea measures changes in the average cost of a basket of consumer goods and services representative of typical household spending.
Q: Why is this trend relevant for users or analysts?
A: The CPI is a key indicator of inflation and cost of living changes, which are crucial for policymakers, businesses, and consumers to monitor.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices and calculated as a weighted average of price changes for the CPI basket.
Q: How is this trend used in economic policy?
A: The CPI is closely watched by the Central Bank of Papua New Guinea to guide monetary policy decisions and maintain price stability.
Q: Are there update delays or limitations?
A: The CPI data for Papua New Guinea is published monthly with a typical 1-2 month delay.
Related Trends
Bank's Overhead Costs to Total Assets for Papua New Guinea
DDEI04PGA156NWDB
Use of Financial Services, Liabilities: Outstanding Deposits at Other Deposit Takers for Papua New Guinea
PNGFCLODDXDC
Number of Identified Exporters to Papua New Guinea from Washington
WAPNGA475SCEN
Use of Financial Services: Number of Loan Accounts at Credit Unions and Financial Cooperatives for Papua New Guinea
PNGFCNODUNUM
Value of Exports to Papua New Guinea from Michigan
MIPNGA052SCEN
Life Insurance Premium Volume to GDP for Papua New Guinea
DDDI09PGA156NWDB
Citation
U.S. Federal Reserve, Consumer Price Index for Papua New Guinea (DDOE01PGA086NWDB), retrieved from FRED.