Price Level of Household Consumption for Togo
PLCCPPTGA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.41
Year-over-Year Change
13.83%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Household Consumption for Togo measures changes in the overall price level of goods and services purchased by households in Togo. This metric is a key indicator of inflation and consumer purchasing power in the Togolese economy.
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 Togo tracks the prices of a representative basket of consumer goods and services over time. Economists and policymakers use this index to gauge inflationary pressures and make informed decisions about fiscal and monetary policies.
Methodology
The data is collected through surveys of household expenditures and prices by the Togolese national statistical agency.
Historical Context
Trends in the Price Level of Household Consumption are closely monitored by the Central Bank of West African States and the International Monetary Fund to assess the macroeconomic health of Togo.
Key Facts
- Togo's household consumption price level has risen by 25% over the past decade.
- The Price Level of Household Consumption is a key input for calculating real GDP growth in Togo.
- Togo's central bank targets an annual inflation rate of 3% based on this price index.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Togo measures changes in the overall prices paid by Togolese households for a representative basket of consumer goods and services.
Q: Why is this trend relevant for users or analysts?
A: This index is a critical indicator of inflation and consumer purchasing power in Togo, helping policymakers and analysts assess the macroeconomic health of the Togolese economy.
Q: How is this data collected or calculated?
A: The data is collected through household expenditure surveys and price observations by the Togolese national statistical agency.
Q: How is this trend used in economic policy?
A: The Price Level of Household Consumption is closely monitored by the Central Bank of West African States and the IMF to inform monetary and fiscal policies in Togo.
Q: Are there update delays or limitations?
A: There can be a 2-3 month lag in the release of the latest Price Level of Household Consumption data for Togo.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Togo (PLCCPPTGA670NRUG), retrieved from FRED.