Price Level of Household Consumption for Equatorial Guinea
PLCCPPGQA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.56
Year-over-Year Change
-2.99%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Household Consumption for Equatorial Guinea measures the general price level of consumer goods and services purchased by households in the country. This metric is critical for understanding the affordability of daily necessities and the overall cost of living.
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 is an index that tracks the average change in prices paid by Equatorial Guinean consumers for a basket of common household items and services. It serves as an important indicator of inflation and purchasing power for policymakers and analysts monitoring the country's economic conditions.
Methodology
The data is collected through household surveys and market price observations by the National Institute of Statistics of Equatorial Guinea.
Historical Context
Trends in this metric help guide monetary and fiscal policies aimed at maintaining price stability and supporting household consumption.
Key Facts
- Equatorial Guinea is an oil-rich country in Central Africa.
- Household consumption accounts for over 60% of the country's GDP.
- The price level index is based on a basket of 300 consumer goods and services.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Equatorial Guinea measures the average change in prices paid by households for a basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the cost of living and purchasing power of Equatorial Guinean households, which informs economic policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and market price observations by the National Institute of Statistics of Equatorial Guinea.
Q: How is this trend used in economic policy?
A: Trends in the household consumption price level help guide monetary and fiscal policies aimed at maintaining price stability and supporting household purchasing power.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may be subject to revisions based on updated survey information.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Equatorial Guinea (PLCCPPGQA670NRUG), retrieved from FRED.