Households and NPISHs Final consumption expenditure (constant LCU)

This indicator captures the total market value of all goods and services consumed by households and nonprofit institutions serving households, measured in constant local currency to account for inflation. It encompasses a wide range of expenditures, including durable goods like vehicles and electronics, while specifically excluding the purchase of residential properties. Notably, it incorporates imputed rent for owner-occupied homes, reflecting the opportunity cost of housing. Additionally, payments made to government entities for licenses and permits are factored in, providing a comprehensive view of consumption dynamics. This metric is crucial for understanding consumer behavior, the economic well-being of households, and the broader health of the economy. Source: