Price Level of Imports for Barbados
PLMCPPBBA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
15.82%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Imports for Barbados measures the change in prices of goods and services imported into Barbados. This metric is important for economists and policymakers to understand Barbados' trade dynamics and inflationary pressures.
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 Imports for Barbados tracks the price changes of a comprehensive basket of imported goods and services. This indicator provides insights into Barbados' purchasing power and the competitiveness of its imports relative to domestic production.
Methodology
The data is collected and calculated by the Barbados Statistical Service using a survey of import prices.
Historical Context
Policymakers use this metric to inform trade, monetary, and fiscal policies that affect Barbados' economic performance.
Key Facts
- Barbados is a net importer of goods and services.
- Import prices can influence domestic inflation and consumer purchasing power.
- The Price Level of Imports has increased by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Barbados measures the change in prices of goods and services imported into the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Barbados' trade dynamics, inflationary pressures, and the competitiveness of its imports compared to domestic production.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Barbados Statistical Service using a survey of import prices.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform trade, monetary, and fiscal policies that affect Barbados' economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month lag, and may not capture all import categories or small-scale trade activities.
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Citation
U.S. Federal Reserve, Price Level of Imports for Barbados (PLMCPPBBA670NRUG), retrieved from FRED.