Consumer Price Index for Tonga
DDOE02TOA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.09
Year-over-Year Change
57.79%
Date Range
1/1/1975 - 1/1/2017
Summary
The Consumer Price Index for Tonga measures the changes in the cost of a basket of consumer goods and services over time. It is a key indicator of inflation and an important tool for policymakers and economists in Tonga.
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 Consumer Price Index (CPI) for Tonga tracks the average change in prices paid by consumers for a representative basket of goods and services. It provides a measure of the overall price level and cost of living in the country. The CPI is widely used to monitor and manage inflation, guide monetary policy, and index wages and social benefits.
Methodology
The Tongan CPI is calculated based on regular price surveys of a fixed basket of consumer items.
Historical Context
The Tongan CPI is an important economic indicator used by the government, central bank, and private sector to assess inflationary pressures and make policy decisions.
Key Facts
- Tonga's CPI is published monthly by the Tongan Department of Statistics.
- The CPI basket includes over 300 consumer goods and services.
- Tonga experienced an annual inflation rate of 5.7% in 2022.
FAQs
Q: What does the Consumer Price Index for Tonga measure?
A: The Tongan CPI measures the average change in prices paid by consumers for a basket of common goods and services over time. It is the primary measure of inflation in Tonga.
Q: Why is the Tongan CPI relevant for users and analysts?
A: The CPI is a crucial economic indicator used by policymakers, businesses, and consumers to assess the cost of living and inflationary pressures in Tonga. It informs monetary policy, wage negotiations, and investment decisions.
Q: How is the Tongan CPI data collected and calculated?
A: The Tongan CPI is calculated based on regular price surveys of a fixed basket of over 300 consumer goods and services conducted by the Tongan Department of Statistics.
Q: How is the Tongan CPI used in economic policy?
A: The Tongan CPI is a key input for the country's monetary policy decisions, as the central bank aims to maintain price stability. It also helps index wages, social benefits, and other contracts to the cost of living.
Q: Are there any delays or limitations with the Tongan CPI data?
A: The Tongan CPI is published monthly with a relatively short delay, making it a timely indicator of inflation. However, the basket composition may not fully capture all changes in consumer spending patterns over time.
Related Trends
U.S. Exports of Goods by F.A.S. Basis to Tonga
EXP6864
Number of Identified Exporters to Tonga from Georgia
GATONA475SCEN
Population ages 65 and above for Tonga
SPPOP65UPTOZSTON
Consolidated Foreign Claims of BIS-Reporting Banks to GDP for Tonga
DDOI12TOA156NWDB
Geographical Outreach: Number of Automated Teller Machines (ATMs) in 3 Largest Cities for Tonga
TONFCACLNUM
Number of Identified Exporters to Tonga from Minnesota
MNTONA475SCEN
Citation
U.S. Federal Reserve, Consumer Price Index for Tonga (DDOE02TOA086NWDB), retrieved from FRED.