Regional Price Parities: Services: Other for Arkansas
ARRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.26
Year-over-Year Change
-3.62%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Arkansas measures geographic differences in the prices of services within the state. This data is crucial for understanding cost-of-living variations and informing economic policy decisions.
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: Services: Other for Arkansas is an index that compares the prices of a variety of service-based goods and activities in different regions of the state. This helps economists and policymakers analyze regional differences in the overall cost of living.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This price parity index is used to adjust economic data and inform policy decisions related to cost-of-living, regional development, and economic competitiveness.
Key Facts
- Arkansas has a lower cost of living than the national average.
- Service prices in Arkansas can vary significantly from urban to rural areas.
- Regional price parities are used to adjust government transfer payments based on local costs.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Arkansas measures geographic differences in the prices of a variety of service-based goods and activities within the state.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding regional cost-of-living variations and informing economic policy decisions related to cost adjustments, regional development, and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Regional price parities are used to adjust economic data and inform policy decisions related to cost-of-living, regional development, and economic competitiveness.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with some lag, and may not fully capture rapid changes in local market conditions.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Arkansas (ARRPPSERVEOTH), retrieved from FRED.