Price Level of Imports for Guinea
PLMCPPGNA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.63
Year-over-Year Change
16.06%
Date Range
1/1/1959 - 1/1/2019
Summary
The Price Level of Imports for Guinea measures the changes in the average prices of goods and services imported into Guinea. This metric is important for understanding Guinea's international trade dynamics and assessing the competitiveness of its domestic 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 Guinea tracks the price changes of a representative basket of imported goods and services. It is used by policymakers and economists to monitor inflation pressures, evaluate the effectiveness of trade policies, and analyze the country's balance of payments.
Methodology
The data is collected through surveys of importers and customs records.
Historical Context
This trend informs analyses of Guinea's exchange rate policy and the impact of international market conditions on the domestic economy.
Key Facts
- Guinea is a major exporter of bauxite, gold, and diamonds.
- The price level of imports is a key component of Guinea's consumer price index.
- Import prices can affect the competitiveness of domestic industries in Guinea.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Guinea measures the changes in the average prices of goods and services imported into the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding Guinea's international trade dynamics and assessing the competitiveness of its domestic industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys of importers and customs records.
Q: How is this trend used in economic policy?
A: This trend informs analyses of Guinea's exchange rate policy and the impact of international market conditions on the domestic economy.
Q: Are there update delays or limitations?
A: The data may be subject to reporting lags and revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Price Level of Imports for Guinea (PLMCPPGNA670NRUG), retrieved from FRED.