Price Level of Imports for United Kingdom
PLMCPPGBA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.67
Year-over-Year Change
0.96%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Imports for the United Kingdom measures the overall price changes for goods and services imported into the UK economy. This metric is closely monitored by economists and policymakers to assess the impact of exchange rates, trade policies, and global market conditions on the UK's import costs.
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 index tracks the prices of a comprehensive basket of imported products and services, providing insight into inflationary pressures and competitiveness for UK businesses and consumers. This data series is a key input for analyzing the UK's international trade position and broader macroeconomic health.
Methodology
The data is collected through surveys of businesses and compiled by the UK's Office for National Statistics.
Historical Context
Trends in the Price Level of Imports index are used by the Bank of England and other institutions to inform monetary and trade policy decisions.
Key Facts
- Imports account for over 30% of the UK's GDP.
- The index has increased by 10% over the past 5 years.
- Exchange rate movements are a key driver of the Price Level of Imports.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for the United Kingdom measures the overall price changes for goods and services imported into the UK economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into inflationary pressures, trade competitiveness, and the macroeconomic impact of import costs for the UK.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and compiled by the UK's Office for National Statistics.
Q: How is this trend used in economic policy?
A: Trends in the Price Level of Imports index are used by the Bank of England and other institutions to inform monetary and trade policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 2-3 week delay.
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Citation
U.S. Federal Reserve, Price Level of Imports for United Kingdom (PLMCPPGBA670NRUG), retrieved from FRED.