Price Level of Household Consumption for Bahamas
PLCCPPBSA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.09
Year-over-Year Change
32.75%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Household Consumption for the Bahamas measures changes in the overall price level of goods and services purchased by Bahamian households. This metric is a key indicator of consumer inflation and purchasing power in the Bahamian economy.
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 Household Consumption tracks the average change in prices paid by Bahamian consumers for a basket of representative goods and services. This index is used by policymakers and analysts to assess the broader cost-of-living trends impacting Bahamian households and consumers.
Methodology
The data is calculated by the Bahamian Department of Statistics based on a survey of household expenditures.
Historical Context
Monitoring the Price Level of Household Consumption is crucial for the Central Bank of the Bahamas in setting appropriate monetary policy to maintain price stability and support consumer purchasing power.
Key Facts
- The base year for the index is 2015.
- Household consumption accounts for over 70% of Bahamian GDP.
- The index reached a record high in 2022 amid global inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for the Bahamas measures changes in the overall price level of goods and services purchased by Bahamian households.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer inflation and purchasing power in the Bahamian economy, making it crucial for policymakers and analysts to assess cost-of-living trends impacting Bahamian households.
Q: How is this data collected or calculated?
A: The data is calculated by the Bahamian Department of Statistics based on a survey of household expenditures.
Q: How is this trend used in economic policy?
A: Monitoring the Price Level of Household Consumption is crucial for the Central Bank of the Bahamas in setting appropriate monetary policy to maintain price stability and support consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay.
Related Trends
Price Level of the Capital Stock for Turkey
PLKCPPTRA670NRUG
Price Level of Exports for Belgium
PLXCPPBEA670NRUG
Price Level of Capital Formation for Saint Vincent and the Grenadines
PLICPPVCA670NRUG
Price Level of Government Consumption for Botswana
PLGCPPBWA670NRUG
Price Level of Government Consumption for Trinidad and Tobago
PLGCPPTTA670NRUG
Price Level of Imports for the former Yugoslav Republic of Macedonia
PLMCPPMKA670NRUG
Citation
U.S. Federal Reserve, Price Level of Household Consumption for Bahamas (PLCCPPBSA670NRUG), retrieved from FRED.