Regional Price Parities: All Items for Mississippi
MSRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.29
Year-over-Year Change
-1.73%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items for Mississippi measure regional price differences across the United States. This metric is important for economists and policymakers to understand the relative cost of living in different states.
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 (RPPs) are spatial price indexes that measure the differences in price levels across states and metropolitan areas relative to the national average. The RPP for All Items in Mississippi provides insight into the overall cost of living in the state compared to the national level.
Methodology
The U.S. Bureau of Economic Analysis calculates the RPPs using data on consumer prices, rents, and other costs.
Historical Context
The RPP data helps inform policy decisions and economic analysis related to regional economic conditions and cost of living adjustments.
Key Facts
- Mississippi's RPP for All Items was 86.7 in 2020, indicating a lower overall cost of living compared to the national average.
- Mississippi had the 3rd lowest RPP for All Items among U.S. states in 2020.
- RPPs are used to adjust personal income and other economic data for regional price differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items for Mississippi measure the overall cost of living in the state relative to the national average.
Q: Why is this trend relevant for users or analysts?
A: The RPP data is important for understanding regional economic conditions and for adjusting economic metrics like personal income to account for differences in the cost of living.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates the RPPs using data on consumer prices, rents, and other costs.
Q: How is this trend used in economic policy?
A: The RPP data helps inform policy decisions and economic analysis related to regional economic conditions and cost of living adjustments.
Q: Are there update delays or limitations?
A: The RPP data is published annually with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items for Mississippi (MSRPPALL), retrieved from FRED.