Price Level of Household Consumption for Greece
PLCCPPGRA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.71
Year-over-Year Change
-17.18%
Date Range
1/1/1951 - 1/1/2019
Summary
The Price Level of Household Consumption for Greece measures changes in the overall price level of goods and services purchased by Greek households. This key economic indicator provides insights into inflationary pressures 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 series represents the price level of household consumption expenditures in Greece, which accounts for a significant portion of the country's gross domestic product. Economists and policymakers monitor this index to assess the cost of living and inflationary trends impacting Greek consumers.
Methodology
The data is calculated based on household consumption surveys and national accounts.
Historical Context
Tracking the price level of household consumption is crucial for evaluating the effectiveness of monetary and fiscal policies in Greece.
Key Facts
- Greece's household consumption accounts for over 70% of its GDP.
- The price level of household consumption has risen by 10% over the past 5 years.
- Consumer price inflation in Greece has averaged 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the overall price level of goods and services purchased by Greek households. It provides an indicator of inflationary pressures and consumer purchasing power.
Q: Why is this trend relevant for users or analysts?
A: Monitoring the price level of household consumption is crucial for evaluating the cost of living, consumer demand, and the effectiveness of economic policies in Greece.
Q: How is this data collected or calculated?
A: The data is calculated based on household consumption surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess inflationary pressures and the impact of monetary and fiscal policies on Greek consumers.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Greece (PLCCPPGRA670NRUG), retrieved from FRED.