Price Level of Imports for Senegal
PLMCPPSNA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.58
Year-over-Year Change
4.48%
Date Range
1/1/1960 - 1/1/2019
Summary
The Price Level of Imports for Senegal measures the relative cost of imported goods and services in the Senegalese economy. This metric is important for tracking Senegal's international trade dynamics and competitiveness.
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 Senegal is an index that represents the overall price level of goods and services imported into Senegal. It is a useful indicator for understanding the country's purchasing power, trade balance, and inflationary pressures driven by external price movements.
Methodology
The data is collected by the national statistical agency based on surveys of import prices.
Historical Context
Policymakers and analysts use this index to assess Senegal's international trade position and the impact of exchange rates and global price changes on the domestic economy.
Key Facts
- The base year for the Price Level of Imports index is 2015.
- Senegal is a major importer of refined petroleum, machinery, and foodstuffs.
- Import prices are a key driver of consumer price inflation in Senegal.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Senegal measures the overall cost of goods and services imported into the Senegalese economy. It tracks changes in the prices of a representative basket of imported products.
Q: Why is this trend relevant for users or analysts?
A: This index is important for understanding Senegal's international trade dynamics, including the country's purchasing power, trade balance, and exposure to global inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected by Senegal's national statistical agency through surveys of import prices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Price Level of Imports index to assess Senegal's trade position and the domestic impact of exchange rate movements and global price changes.
Q: Are there update delays or limitations?
A: The data is published with a short lag, and the index may not fully capture all imported goods and services in the Senegalese economy.
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Citation
U.S. Federal Reserve, Price Level of Imports for Senegal (PLMCPPSNA670NRUG), retrieved from FRED.