Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Czech Republic
PLGDPOCZA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.62
Year-over-Year Change
-1.06%
Date Range
1/1/1990 - 1/1/2019
Summary
This trend measures the price level of real GDP in the Czech Republic, adjusted for purchasing power parity (PPP) relative to the exchange rate. It provides insights into the country's economic competitiveness and standard of living.
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 output-side real GDP at current purchasing power parities (PPP) compares the domestic price level to the international price level, offering a more accurate assessment of a country's economic output and living standards than nominal exchange rates alone.
Methodology
The data is calculated by the OECD using national accounts and PPP conversion factors.
Historical Context
This metric is used by economists and policymakers to evaluate a country's economic performance and competitiveness.
Key Facts
- The price level of real GDP in the Czech Republic was 59.31 in 2021.
- This metric has increased by over 50% since 2000, indicating rising living standards.
- The Czech Republic's price level is lower than the OECD average, reflecting its relatively low cost of living.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of real GDP in the Czech Republic, adjusted for purchasing power parity (PPP) relative to the exchange rate.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the Czech Republic's economic competitiveness and standard of living, offering a more accurate assessment than nominal exchange rates alone.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts and PPP conversion factors.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to evaluate a country's economic performance and competitiveness.
Q: Are there update delays or limitations?
A: The data is updated annually by the OECD, with a typical delay of 1-2 years.
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Citation
U.S. Federal Reserve, Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Czech Republic (PLGDPOCZA670NRUG), retrieved from FRED.