Price Level of Imports for Trinidad and Tobago
PLMCPPTTA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.55
Year-over-Year Change
-0.25%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Imports for Trinidad and Tobago is an economic indicator that measures the average prices of goods and services imported into the country. It is a key metric for analyzing trade dynamics and the cost of foreign goods within the domestic economy.
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
This import price index tracks the overall price movement of a basket of imported commodities and products purchased by Trinidad and Tobago. It provides insights into inflationary pressures driven by international trade and the purchasing power of the country's currency in global markets.
Methodology
The data is collected through surveys of businesses and compiled by the Central Statistical Office of Trinidad and Tobago.
Historical Context
Policymakers and economists use this index to assess the impact of exchange rates, tariffs, and other trade factors on domestic inflation and the cost of living.
Key Facts
- Trinidad and Tobago is a major importer of goods and services.
- Imported inflation can significantly impact the country's consumer price index.
- The price level of imports reflects the purchasing power of the Trinidad and Tobago dollar.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for Trinidad and Tobago measures the average prices of goods and services imported into the country. It tracks the overall price movement of a basket of imported commodities and products.
Q: Why is this trend relevant for users or analysts?
A: This import price index provides insights into inflationary pressures driven by international trade and the purchasing power of Trinidad and Tobago's currency in global markets, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and compiled by the Central Statistical Office of Trinidad and Tobago.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the impact of exchange rates, tariffs, and other trade factors on domestic inflation and the cost of living in Trinidad and Tobago.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and data collection methods of the Central Statistical Office of Trinidad and Tobago.
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Citation
U.S. Federal Reserve, Price Level of Imports for Trinidad and Tobago (PLMCPPTTA670NRUG), retrieved from FRED.