Price Level of Government Consumption for Ecuador
PLGCPPECA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.54
Year-over-Year Change
23.41%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Ecuador measures the cost of government-provided goods and services in Ecuador. This metric is crucial for evaluating the efficiency and competitiveness of Ecuador's public sector.
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 Government Consumption for Ecuador indexes the cost of government consumption, including compensation of public employees, purchases of goods and services, and other government expenditures. Economists and policymakers use this indicator to assess the relative cost-effectiveness of Ecuador's public sector.
Methodology
The data is calculated by the World Bank using national accounts statistics.
Historical Context
This metric provides important context for analyzing Ecuador's fiscal and economic policies.
Key Facts
- Ecuador's government consumption price level was 67.0 in 2020.
- The price level has increased by 18.8% since 2010.
- Ecuador's public sector is relatively less costly compared to other Latin American countries.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Ecuador measures the cost of government-provided goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating the efficiency and competitiveness of Ecuador's public sector, which is relevant for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts statistics.
Q: How is this trend used in economic policy?
A: This indicator provides important context for analyzing Ecuador's fiscal and economic policies, including the cost-effectiveness of its public sector.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, so there may be a lag in the most recent information.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Ecuador (PLGCPPECA670NRUG), retrieved from FRED.