Regional Price Parities: All Items for Arizona
AZRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.11
Year-over-Year Change
2.04%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items for Arizona measures the relative price levels across states for a fixed basket of consumer goods and services. This metric is important for economists and policymakers to understand regional cost-of-living differences.
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: All Items for Arizona index provides a measure of the average price level in the state relative to the national average. It enables meaningful comparisons of real purchasing power and standards of living across regions.
Methodology
The data is calculated by the Bureau of Economic Analysis using a multilateral price index approach.
Historical Context
This metric informs decisions around cost-of-living adjustments, regional economic development, and policy targeting.
Key Facts
- Arizona's regional price parity was 97.5 in 2020, indicating prices 2.5% below the national average.
- Housing costs in Arizona are approximately 3% lower than the U.S. average.
- The index has remained relatively stable, fluctuating within a 2 percentage point range over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items for Arizona measures the average price level in the state compared to the national average, providing a gauge of regional cost-of-living differences.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding real purchasing power and standards of living across states, informing decisions around cost-of-living adjustments, regional economic development, and policy targeting.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis using a multilateral price index approach.
Q: How is this trend used in economic policy?
A: This regional price parity index informs decisions around cost-of-living adjustments, regional economic development programs, and policy targeting at the state level.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items for Arizona (AZRPPALL), retrieved from FRED.