Implicit Regional Price Deflator for Arizona
AZIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.82
Year-over-Year Change
32.49%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator for Arizona measures changes in the average price level of goods and services in the state. It is a key indicator of regional economic performance and a critical input for policymakers and analysts.
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 Implicit Regional Price Deflator tracks price inflation at the state level, providing a more localized view than national consumer price indexes. It is used to adjust nominal economic data for regional price differences, enabling accurate comparisons of real economic activity across states.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private sector sources.
Historical Context
The IRPD is widely used by economists, policymakers, and businesses to understand regional economic conditions and make informed decisions.
Key Facts
- The IRPD is calculated monthly by the U.S. Bureau of Economic Analysis.
- It measures changes in the average price level of all goods and services in Arizona.
- The IRPD is a crucial input for adjusting nominal state-level economic data.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator for Arizona measures changes in the average price level of goods and services within the state.
Q: Why is this trend relevant for users or analysts?
A: The IRPD is a critical indicator of regional economic performance and is used to adjust nominal data for accurate comparisons of real economic activity across states.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private sector sources.
Q: How is this trend used in economic policy?
A: The IRPD is widely used by economists, policymakers, and businesses to understand regional economic conditions and make informed decisions.
Q: Are there update delays or limitations?
A: The IRPD is published monthly with no significant update delays.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator for Arizona (AZIRPD), retrieved from FRED.