Price Level of Imports for Singapore
PLMCPPSGA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.67
Year-over-Year Change
7.94%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Imports for Singapore measures the general price level of imported goods and services. This metric is important for economists and policymakers to assess Singapore's trade competitiveness 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 Singapore is an index that tracks the average change in prices of a basket of imported goods and services over time. It provides insight into the cost of imports, which is a key component of Singapore's open, trade-driven economy.
Methodology
The data is calculated by the Monetary Authority of Singapore based on import price surveys.
Historical Context
This trend is used by analysts and policymakers to monitor import-driven inflation and Singapore's trade performance.
Key Facts
- Singapore is a major global trading hub.
- Import prices can significantly impact domestic inflation.
- The trend has risen steadily since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Singapore measures the average change in prices of imported goods and services over time.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Singapore's trade competitiveness and import-driven inflationary pressures, which are crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the Monetary Authority of Singapore based on import price surveys.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to monitor import-driven inflation and Singapore's trade performance, which informs economic and trade policies.
Q: Are there update delays or limitations?
A: The data is published with a short delay and may be subject to revisions by the Monetary Authority of Singapore.
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Citation
U.S. Federal Reserve, Price Level of Imports for Singapore (PLMCPPSGA670NRUG), retrieved from FRED.