Price Level of Government Consumption for Mongolia
PLGCPPMNA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.19
Year-over-Year Change
68.44%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Government Consumption for Mongolia measures the relative cost of government purchases in the country compared to the global average. This metric provides insights into the efficiency and affordability of Mongolia'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 Mongolia is an index that compares the purchasing power of government spending in Mongolia to the worldwide average. It offers a standardized measure of the cost of public-sector goods and services relative to global price levels.
Methodology
The data is calculated by the World Bank using prices for a representative basket of government consumption items.
Historical Context
This trend is useful for policymakers and economists to assess Mongolia's fiscal position and the competitiveness of its public expenditures.
Key Facts
- Mongolia's government consumption price level was 0.66 in 2020.
- The index has declined from 0.75 in 2010, indicating increased affordability of public services.
- Lower price levels suggest greater efficiency in Mongolia's public sector.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Mongolia measures the relative cost of government purchases in the country compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the efficiency and affordability of Mongolia's public sector, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using prices for a representative basket of government consumption items.
Q: How is this trend used in economic policy?
A: This trend is useful for assessing Mongolia's fiscal position and the competitiveness of its public expenditures.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, so there may be a delay in the most recent information.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Mongolia (PLGCPPMNA670NRUG), retrieved from FRED.