Price Level of Government Consumption for United States
PLGCPPUSA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.27
Year-over-Year Change
4.38%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for the United States measures inflation in government spending on goods and services. It is a key indicator for policymakers to understand the cost of government operations.
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
This index tracks changes in the prices paid by the U.S. government for final consumption expenditures, including compensation of government employees, purchases of goods and services, and consumption of fixed capital. It provides insight into the cost pressures facing government budgets.
Methodology
The data is calculated based on national accounts data from the Bureau of Economic Analysis.
Historical Context
This metric is closely watched by fiscal policymakers and analysts to assess inflationary dynamics in the public sector.
Key Facts
- Government consumption is around 17% of U.S. GDP.
- The index has risen at an average annual rate of 2.1% since 2000.
- High inflation in government spending can strain public budgets.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for the United States tracks changes in the prices paid by the government for goods, services, and employee compensation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into inflationary pressures facing government budgets, which is crucial information for policymakers and fiscal analysts.
Q: How is this data collected or calculated?
A: The data is calculated based on national accounts data from the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This index is closely watched by fiscal policymakers to assess cost pressures in government operations and their implications for public spending and budgets.
Q: Are there update delays or limitations?
A: The 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 United States (PLGCPPUSA670NRUG), retrieved from FRED.