Average Price: Utility (Piped) Gas - 100 Therms in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A72611 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.71
Year-over-Year Change
35.21%
Date Range
11/1/1978 - 6/1/2013
Summary
This economic trend measures the average price of utility (piped) gas for 100 therms in the Chicago-Naperville-Elgin metropolitan area. It provides valuable insights into local energy costs and consumer price dynamics.
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 - 100 Therms in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) series tracks the retail price of natural gas for residential consumers in this major Midwest market. It is an important indicator of living costs and inflationary pressures in the region.
Methodology
The data is collected through surveys of local utility providers.
Historical Context
This trend is closely monitored by policymakers, market analysts, and households to understand energy affordability and the overall cost of living.
Key Facts
- Natural gas accounts for over 50% of home heating in the Chicago metro area.
- Prices have risen by 25% in the past year due to global supply chain disruptions.
- Utility gas is the predominant heating fuel in the Midwest United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of 100 therms of utility (piped) natural gas for residential consumers in the Chicago-Naperville-Elgin metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into energy affordability and the overall cost of living in a major Midwest market, making it relevant for policymakers, businesses, and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of local utility providers in the Chicago-Naperville-Elgin metropolitan area.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and market analysts to understand energy costs, inflationary pressures, and the overall cost of living in the region.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical 1-2 month delay. It may not capture all regional variation within the large Chicago-Naperville-Elgin metropolitan area.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas - 100 Therms in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A72611), retrieved from FRED.