Regional Price Parities: All Items: Nonmetropolitan Portion for Mississippi
MSNMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83.68
Year-over-Year Change
-1.18%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Nonmetropolitan Portion for Mississippi measures the relative cost of living in non-metropolitan areas of Mississippi compared to the national average. This metric is important for policymakers and economists to understand regional variations in prices and affordability.
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 Regional Price Parities represent the geographic differences in the price levels of consumer goods and services across the United States. The nonmetropolitan portion specifically captures price data for rural and small-town areas in Mississippi, providing insight into the cost of living in these regions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer prices.
Historical Context
This metric is used to adjust income data and make regional economic comparisons for policy and market analysis.
Key Facts
- The nonmetropolitan portion of Mississippi has a price level around 87% of the national average.
- This measure is updated annually by the Bureau of Economic Analysis.
- Regional price parities are used to adjust personal income data for geographic differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Nonmetropolitan Portion for Mississippi measures the relative cost of consumer goods and services in rural and small-town areas of the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional variations in the cost of living, which is crucial for adjusting income data, analyzing economic conditions, and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Bureau of Economic Analysis based on surveys of consumer prices.
Q: How is this trend used in economic policy?
A: Regional price parities are used by policymakers, economists, and market analysts to adjust income data and make regional economic comparisons for policy and market analysis.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is updated annually, with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items: Nonmetropolitan Portion for Mississippi (MSNMPRPPALL), retrieved from FRED.