Price Level of Household Consumption for Niger
PLCCPPNEA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.43
Year-over-Year Change
16.02%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Household Consumption for Niger measures the general price level of goods and services consumed by households in the country. It is a key indicator of inflation and economic conditions.
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 changes in the average prices paid by consumers for a basket of goods and services representing typical household expenditures. It is used to assess the purchasing power of the local currency and the overall cost of living in Niger.
Methodology
The data is collected through surveys of consumer prices and calculated as an index relative to a base year.
Historical Context
Policymakers and economists monitor this trend to inform decisions on monetary policy, wage adjustments, and social programs.
Key Facts
- The base year for the index is 2010.
- Household consumption accounts for over 80% of Niger's GDP.
- The index has risen by 30% since 2015.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Niger measures the average change in prices paid by consumers for a basket of goods and services representing typical household expenditures in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of inflation and the overall cost of living in Niger, which is crucial information for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices and calculated as an index relative to a base year.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to inform decisions on monetary policy, wage adjustments, and social programs.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may not fully capture all aspects of household consumption in Niger.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Niger (PLCCPPNEA670NRUG), retrieved from FRED.