Price Level of Government Consumption for Bolivarian Republic of Venezuela
PLGCPPVEA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.18
Year-over-Year Change
2420.44%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Bolivarian Republic of Venezuela tracks the cost of government-purchased goods and services in the country over time, providing insights into fiscal policy and economic conditions.
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 economic indicator measures the price level of government consumption expenditures in Venezuela, reflecting the relative cost of goods and services procured by the public sector. It is a key metric for understanding the government's fiscal position and can signal inflationary pressures in the broader economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on national accounts information.
Historical Context
Policymakers and analysts use this trend to assess the affordability of government programs and the overall fiscal health of the Venezuelan economy.
Key Facts
- Venezuela has experienced hyperinflation in recent years.
- Government spending accounts for a significant portion of the country's GDP.
- The price level of government consumption can indicate economic instability.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of goods and services purchased by the Venezuelan government, providing insights into the cost of public sector consumption.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the fiscal position of the Venezuelan government and the broader inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the affordability of government programs and the overall fiscal health of the Venezuelan economy.
Q: Are there update delays or limitations?
A: The data may be subject to delays or limitations due to the challenging economic conditions in Venezuela.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Bolivarian Republic of Venezuela (PLGCPPVEA670NRUG), retrieved from FRED.