Price Level of Household Consumption for Ecuador
PLCCPPECA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.56
Year-over-Year Change
36.37%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Ecuador measures the price changes of goods and services purchased by Ecuadorian households. This key economic indicator provides insights into the cost of living and consumer 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 inflation-adjusted index tracks the average change in prices paid by Ecuadorian consumers for a basket of household goods and services. It is a widely-used metric for assessing the state of the Ecuadorian economy and informing economic policymaking.
Methodology
The data is collected through surveys of Ecuadorian households and businesses, then aggregated and adjusted for seasonal variations.
Historical Context
Policymakers and analysts use this metric to monitor inflation, guide monetary policy, and evaluate the standard of living for Ecuadorian consumers.
Key Facts
- Ecuador's household consumption price index has increased by 10% over the past 5 years.
- Food and transportation are the largest components of the Ecuadorian household consumption basket.
- Monitoring the price level of household consumption is crucial for setting appropriate monetary and fiscal policies in Ecuador.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Ecuador measures the average change in prices paid by Ecuadorian consumers for a basket of household goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the cost of living and purchasing power of Ecuadorian consumers, which is crucial for economic policymaking and assessing the standard of living.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Ecuadorian households and businesses, then aggregated and adjusted for seasonal variations.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor inflation, guide monetary policy, and evaluate the standard of living for Ecuadorian consumers.
Q: Are there update delays or limitations?
A: The data is published regularly by the Ecuadorian government, but there may be some delays in reporting due to the complexity of data collection.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Ecuador (PLCCPPECA670NRUG), retrieved from FRED.