Inflation, consumer prices for Guinea-Bissau
FPCPITOTLZGGNB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.77
Year-over-Year Change
76.74%
Date Range
1/1/1988 - 1/1/2024
Summary
The Inflation, consumer prices for Guinea-Bissau series measures the change in prices for a basket of consumer goods and services in Guinea-Bissau. It is a key indicator of economic stability and purchasing power.
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 tracks the Consumer Price Index (CPI) for Guinea-Bissau, a measure of the average change in prices paid by consumers for a market basket of consumer goods and services. The CPI is used to assess inflation and cost-of-living changes, informing policy decisions.
Methodology
The data is collected through surveys of consumer spending and prices by the National Institute of Statistics.
Historical Context
Policymakers and economists use the Guinea-Bissau CPI to evaluate the effectiveness of monetary and fiscal policies.
Key Facts
- Guinea-Bissau's current annual inflation rate is over 10%.
- The CPI basket includes food, housing, transportation, and other consumer goods.
- Inflation erodes purchasing power and can destabilize an economy.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for Guinea-Bissau series measures changes in the prices of a basket of consumer goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: This CPI data is crucial for assessing the cost of living, informing monetary and fiscal policies, and understanding the overall state of the Guinean economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer spending and prices by the National Institute of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the Guinea-Bissau CPI to evaluate the effectiveness of monetary and fiscal policies aimed at managing inflation and cost-of-living changes.
Q: Are there update delays or limitations?
A: There may be delays in data reporting from the National Institute of Statistics, and the CPI basket may not fully capture all consumer spending patterns.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Guinea-Bissau (FPCPITOTLZGGNB), retrieved from FRED.