Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Grenada
PLGDPOGDA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.70
Year-over-Year Change
-6.75%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the price level of output-side real GDP in Grenada adjusted for purchasing power parity (PPP) and exchange rates. It provides insights into the relative cost of goods and services in Grenada compared to other countries.
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 is an indicator that compares the price level of a country's GDP to the global average. It accounts for differences in the cost of living and purchasing power between countries, offering a more accurate assessment of economic activity.
Methodology
The data is calculated by the World Bank using GDP and exchange rate data.
Historical Context
This metric is used by economists and policymakers to evaluate Grenada's economic competitiveness and living standards relative to other nations.
Key Facts
- Grenada's price level of output-side real GDP was 59.4 in 2021.
- The metric has decreased from 72.4 in 2010, indicating declining relative prices.
- A lower value suggests Grenada's cost of living is below the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of output-side real GDP in Grenada, which compares the country's cost of living and purchasing power to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Grenada's economic competitiveness and living standards relative to other countries, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using GDP and exchange rate data.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to evaluate Grenada's economic performance and living standards compared to other nations.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture rapid changes in exchange rates or prices.
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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 Grenada (PLGDPOGDA670NRUG), retrieved from FRED.