Regional Price Parities: All Items: Metropolitan Portion for Arkansas
ARMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.43
Year-over-Year Change
-3.81%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Metropolitan Portion for Arkansas measures the relative price level of consumer goods and services across different regions of the state. This metric is crucial for understanding cost-of-living differences and regional economic disparities.
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. The All Items: Metropolitan Portion for Arkansas specifically looks at the price levels in the state's urban areas compared to the national average.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using consumer price information.
Historical Context
Policymakers and economists use the RPP data to adjust income, spending, and other economic indicators for geographic price differences.
Key Facts
- The RPP for Arkansas's metropolitan areas was 90.7 in 2020, meaning prices were about 9.3% below the national average.
- Arkansas has the 3rd lowest metropolitan RPP among U.S. states.
- RPPs are used to adjust personal income and GDP for geographic price differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Metropolitan Portion for Arkansas measures the relative cost of consumer goods and services in the state's urban areas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding differences in the cost of living and regional economic disparities across Arkansas and the United States.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using consumer price information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the RPP data to adjust income, spending, and other economic indicators for geographic price differences.
Q: Are there update delays or limitations?
A: The RPP data is published annually with a slight delay, and may not fully capture rapid changes in regional price levels.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items: Metropolitan Portion for Arkansas (ARMPRPPALL), retrieved from FRED.