Average Price: Utility (Piped) Gas - 40 Therms in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A72601 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.76
Year-over-Year Change
24.66%
Date Range
11/1/1978 - 6/1/2013
Summary
This trend measures the average price of utility (piped) gas for a 40-therm usage level in the Chicago-Naperville-Elgin metropolitan area. It is a key indicator of residential energy costs and a gauge of local market conditions.
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 Average Price: Utility (Piped) Gas - 40 Therms in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) series tracks the average retail price paid by residential consumers for natural gas in the Chicago metropolitan region. This metric is widely used by policymakers, analysts, and consumers to assess trends in home heating and utility expenses.
Methodology
The data is collected through surveys of local utility providers and aggregated by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, regulators, and households to understand market dynamics and the impact of energy costs on the regional economy.
Key Facts
- The average price was $21.03 per 40 therms in January 2023.
- Prices have increased by 14.2% over the past year.
- Natural gas is the primary heating fuel for over 50% of Chicago-area households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price paid by residential consumers for 40 therms of utility (piped) natural gas in the Chicago-Naperville-Elgin metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of home heating and utility costs in the Chicago region, providing important insights into the local energy market and cost of living for households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of local utility providers and aggregated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, regulators, and analysts monitor this trend to understand market dynamics and the impact of energy costs on the regional economy, informing decisions around energy policy and consumer protections.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2 months. Regional variations and individual household usage patterns may not be fully captured by this aggregate metric.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas - 40 Therms in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A72601), retrieved from FRED.