Price Level of Imports for Bermuda
PLMCPPBMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.60
Year-over-Year Change
-0.10%
Date Range
1/1/1970 - 1/1/2019
Summary
The Price Level of Imports for Bermuda measures changes in the average prices of goods and services imported into Bermuda. This metric is important for analyzing Bermuda's trade dynamics and assessing the competitiveness of its industries.
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 Bermuda tracks the cost of a representative basket of imported goods and services over time. This index is a key indicator of Bermuda's import prices and can provide insights into the island's trade balance, consumer purchasing power, and overall economic conditions.
Methodology
The data is collected through surveys of importers and compiled by the Bermuda Statistical Department.
Historical Context
Policymakers and analysts use this index to monitor Bermuda's exposure to global price fluctuations and inform decisions on trade, monetary, and fiscal policies.
Key Facts
- Bermuda is a net importer of goods and services.
- The import price index is tracked quarterly.
- Changes in the index can affect Bermuda's inflation rate.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Bermuda measures the average prices of goods and services imported into the island over time.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into Bermuda's trade dynamics, consumer purchasing power, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and compiled by the Bermuda Statistical Department.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor Bermuda's exposure to global price fluctuations and inform decisions on trade, monetary, and fiscal policies.
Q: Are there update delays or limitations?
A: The import price index for Bermuda is tracked quarterly, with some potential for delays in data reporting.
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Citation
U.S. Federal Reserve, Price Level of Imports for Bermuda (PLMCPPBMA670NRUG), retrieved from FRED.