Regional Price Parities: Goods: Metropolitan Portion for Arkansas
ARMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.14
Year-over-Year Change
-4.57%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities for Goods: Metropolitan Portion for Arkansas measure geographic differences in the prices of goods in metropolitan areas across the state. This metric is used by economists and policymakers to understand regional cost-of-living variations.
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 goods component focuses specifically on geographic disparities in the prices of consumer goods and services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a survey-based methodology.
Historical Context
RPPs are used to adjust incomes for spatial cost-of-living differences, informing economic and social policy decisions.
Key Facts
- Arkansas has the 6th lowest regional price parity for goods among U.S. states.
- The metropolitan portion of the Arkansas goods RPP was 91.4% of the national average in 2020.
- Adjusting incomes for regional cost-of-living differences is important for accurate poverty measurement.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities for Goods: Metropolitan Portion for Arkansas measure geographic differences in the prices of consumer goods and services in metropolitan areas across the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to understand regional cost-of-living variations, which is important for adjusting incomes and accurately measuring poverty.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a survey-based methodology.
Q: How is this trend used in economic policy?
A: Regional Price Parities are used to adjust incomes for spatial cost-of-living differences, informing economic and social policy decisions.
Q: Are there update delays or limitations?
A: The Regional Price Parities are published annually with a delay of approximately 1 year.
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Citation
U.S. Bureau of Economic Analysis, Regional Price Parities: Goods: Metropolitan Portion for Arkansas (ARMPRPPGOOD), retrieved from FRED.