Price Level of Household Consumption for Saudi Arabia
PLCCPPSAA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.45
Year-over-Year Change
0.41%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Household Consumption for Saudi Arabia measures the cost of consumer goods and services purchased by households in the country. This metric is important for policymakers to understand inflationary pressures and the purchasing power of Saudi consumers.
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 for Saudi Arabia is an index that tracks the changes in prices paid by Saudi households for a basket of consumer goods and services. It serves as a key indicator of inflation and the overall cost of living in the country.
Methodology
This index is calculated by the Saudi General Authority for Statistics based on a survey of household expenditures.
Historical Context
Policymakers and economists use this data to inform monetary and fiscal policies aimed at promoting economic stability and growth.
Key Facts
- The base year for the Price Level of Household Consumption index is 2010.
- Saudi Arabia's household consumption accounted for over 40% of its GDP in 2021.
- The index has shown moderate inflation in Saudi Arabia in recent years.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Saudi Arabia measures the changes in prices paid by Saudi households for a basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding inflationary pressures and the purchasing power of Saudi consumers, which is crucial information for policymakers and economists.
Q: How is this data collected or calculated?
A: The index is calculated by the Saudi General Authority for Statistics based on a survey of household expenditures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to inform monetary and fiscal policies aimed at promoting economic stability and growth in Saudi Arabia.
Q: Are there update delays or limitations?
A: The data is published regularly by the Saudi General Authority for Statistics, but there may be some delays in reporting.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Saudi Arabia (PLCCPPSAA670NRUG), retrieved from FRED.