Implicit Regional Price Deflator: Metropolitan Portion for Arkansas
ARMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.55
Year-over-Year Change
24.88%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator (IRPD) for the metropolitan portion of Arkansas measures regional price differences across the state. It is a key indicator for understanding economic conditions and cost of living in urban areas.
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 IRPD tracks price changes for a basket of consumer goods and services in Arkansas' metropolitan regions. It provides a more localized measure of inflation than national indices, helping policymakers and businesses assess regional economic dynamics.
Methodology
The IRPD is calculated by the U.S. Bureau of Economic Analysis using a variety of data sources on consumer prices.
Historical Context
The IRPD is used by economists and policymakers to adjust economic data for regional price variations and analyze regional competitiveness.
Key Facts
- The IRPD is calculated quarterly by the Bureau of Economic Analysis.
- The IRPD for Arkansas' metro areas has risen by 15% over the past decade.
- Regional price deflators help adjust income and spending data for local cost-of-living differences.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator (IRPD) for the metropolitan portion of Arkansas measures regional price differences across the state's urban areas.
Q: Why is this trend relevant for users or analysts?
A: The IRPD provides a more localized measure of inflation than national indices, helping policymakers and businesses assess regional economic conditions and cost of living.
Q: How is this data collected or calculated?
A: The IRPD is calculated by the U.S. Bureau of Economic Analysis using a variety of data sources on consumer prices.
Q: How is this trend used in economic policy?
A: The IRPD is used by economists and policymakers to adjust economic data for regional price variations and analyze regional competitiveness.
Q: Are there update delays or limitations?
A: The IRPD is calculated and published quarterly by the Bureau of Economic Analysis.
Related Trends
Real Per Capita Personal Income in Arkansas
AROI96
Interbank Deposits in Commercial Member Banks in Arkansas
X08IOMBIAR
Coefficient for Industrial Carbon Dioxide Emissions, Asphalt and Road Oil for Arkansas
EMISSCO2CARICBARA
State Government Tax Collections, Corporations in General Licenses in Arkansas
ARCORPLICTAX
Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Arkansas
ARDURMANQGSP
Real Gross Domestic Product: Wholesale Trade (42) in Arkansas
ARWHOLERQGSP
Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Metropolitan Portion for Arkansas (ARMPIRPD), retrieved from FRED.