Price Level of Household Consumption for Republic of Korea
PLCCPPKRA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.85
Year-over-Year Change
12.51%
Date Range
1/1/1953 - 1/1/2019
Summary
The Price Level of Household Consumption for the Republic of Korea measures changes in the general price level of goods and services purchased by Korean households. It is a key indicator of inflation 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 index tracks the average change in prices paid by Korean consumers for a basket of common household goods and services. It is used by policymakers and economists to gauge inflationary pressures and the overall cost of living in the Korean economy.
Methodology
The data is collected through surveys of Korean households and businesses, then aggregated and indexed to monitor price trends over time.
Historical Context
The Price Level of Household Consumption is closely watched by the Bank of Korea and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- The index base year is 2015 = 100.
- Household consumption accounts for over 50% of Korea's GDP.
- Inflation targeting is a key policy objective for the Bank of Korea.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for the Republic of Korea measures changes in the general price level of goods and services purchased by Korean households.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflation and consumer purchasing power in the Korean economy, and is closely watched by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Korean households and businesses, then aggregated and indexed to monitor price trends over time.
Q: How is this trend used in economic policy?
A: The Price Level of Household Consumption is closely watched by the Bank of Korea and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule with minimal delays, providing timely insight into Korean consumer price trends.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Republic of Korea (PLCCPPKRA670NRUG), retrieved from FRED.