Price Level of Government Consumption for Fiji
PLGCPPFJA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.47
Year-over-Year Change
-2.46%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Government Consumption for Fiji measures the relative price of government-purchased goods and services in Fiji compared to a global reference level. This metric is useful for economists and policymakers analyzing Fiji's public sector expenditures.
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 Fiji is an index that compares the purchasing power of government spending in Fiji to a global reference group. It provides insights into the efficiency and cost-effectiveness of Fiji's public sector procurement and budget allocations.
Methodology
This data is calculated by the World Bank using national accounts and price survey information.
Historical Context
Tracking the price level of government consumption is important for assessing Fiji's fiscal policies and international competitiveness.
Key Facts
- Fiji's government consumption price level was 64.7 in 2021.
- The index is measured relative to a global reference of 100.
- A lower index indicates more cost-effective public sector procurement.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Fiji measures the relative cost of goods and services purchased by the Fijian government compared to a global reference group.
Q: Why is this trend relevant for users or analysts?
A: Tracking this metric is important for evaluating the efficiency and cost-effectiveness of Fiji's public sector spending and fiscal policies.
Q: How is this data collected or calculated?
A: The World Bank calculates this index using national accounts data and price surveys.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess Fiji's international competitiveness and the value-for-money of government procurement.
Q: Are there update delays or limitations?
A: This data is published annually with a lag, so it may not reflect the most recent fiscal year.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Fiji (PLGCPPFJA670NRUG), retrieved from FRED.