Price Level of Government Consumption for Republic of Korea
PLGCPPKRA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.76
Year-over-Year Change
-1.74%
Date Range
1/1/1953 - 1/1/2019
Summary
The Price Level of Government Consumption for Republic of Korea (PLGCPPKRA670NRUG) measures the price index for government consumption expenditures in South Korea. This metric is important for economists and policymakers to assess inflationary pressures and the purchasing power of government budgets.
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 PLGCPPKRA670NRUG series tracks the price level for goods and services consumed by the South Korean government. It can be used to analyze the real purchasing power of government budgets and the impact of inflation on public sector spending over time.
Methodology
The data is collected and calculated by the OECD using national accounts information.
Historical Context
This economic indicator helps inform fiscal and monetary policy decisions in South Korea.
Key Facts
- The base year for the PLGCPPKRA670NRUG index is 2015.
- Government consumption accounts for approximately 15% of South Korea's GDP.
- Tracking the PLGCPPKRA670NRUG index helps assess the real purchasing power of government budgets.
FAQs
Q: What does this economic trend measure?
A: The PLGCPPKRA670NRUG series measures the price level for goods and services consumed by the government of South Korea.
Q: Why is this trend relevant for users or analysts?
A: This indicator helps economists and policymakers analyze the impact of inflation on government budgets and the real purchasing power of public sector spending.
Q: How is this data collected or calculated?
A: The OECD collects and calculates the PLGCPPKRA670NRUG data using national accounts information from South Korea.
Q: How is this trend used in economic policy?
A: The PLGCPPKRA670NRUG index informs fiscal and monetary policy decisions in South Korea by providing insights into inflationary pressures on government consumption.
Q: Are there update delays or limitations?
A: The PLGCPPKRA670NRUG data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Republic of Korea (PLGCPPKRA670NRUG), retrieved from FRED.