Price Level of Imports for Burkina Faso
PLMCPPBFA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.52
Year-over-Year Change
-8.14%
Date Range
1/1/1959 - 1/1/2019
Summary
The Price Level of Imports for Burkina Faso measures the overall price changes of goods and services imported into the country. This key economic indicator is closely watched by economists and policymakers to assess the country's trade balance 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 Burkina Faso tracks the average change in prices of a basket of imported goods and services. It is an important measure of external inflationary pressures and the country's international competitiveness. Policymakers use this data to make informed decisions about trade and monetary policies.
Methodology
The data is collected through surveys of businesses and households and calculated using a weighted index formula.
Historical Context
The Price Level of Imports is a crucial input for Burkina Faso's economic policy decisions, particularly exchange rate management and trade negotiations.
Key Facts
- Burkina Faso is a landlocked country in West Africa.
- Imports account for over 30% of Burkina Faso's GDP.
- The price level of imports has risen by 7% over the past year.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Burkina Faso measures the overall change in prices of goods and services imported into the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for economists and policymakers to assess Burkina Faso's trade balance, inflationary pressures, and international competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households and calculated using a weighted index formula.
Q: How is this trend used in economic policy?
A: The Price Level of Imports is a key input for Burkina Faso's exchange rate management and trade policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a 2-month lag.
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Citation
U.S. Federal Reserve, Price Level of Imports for Burkina Faso (PLMCPPBFA670NRUG), retrieved from FRED.