Regional Price Parities: Goods for Arizona
AZRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.47
Year-over-Year Change
-1.50%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods for Arizona measure cost-of-living differences across U.S. states. This data is crucial for evaluating regional economic conditions and policies.
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) compare the average prices paid by consumers in different states and metro areas. The Goods RPP specifically tracks relative costs of goods, a key component of the overall cost of living.
Methodology
RPP data is calculated by the Bureau of Economic Analysis using a multilateral price index methodology.
Historical Context
RPP data informs federal programs and policies aimed at addressing regional economic disparities.
Key Facts
- Arizona's Goods RPP was 94.9 in 2020, below the national average of 100.
- RPPs are published annually for all U.S. states and metro areas.
- RPPs are used to adjust personal income data for regional price differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Goods for Arizona measures relative prices of consumer goods across different regions of the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: RPP data is crucial for evaluating regional economic conditions and cost-of-living differences, which informs policy decisions and program implementation.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates RPPs using a multilateral price index methodology.
Q: How is this trend used in economic policy?
A: RPP data informs federal programs and policies aimed at addressing regional economic disparities, such as cost-of-living adjustments for federal assistance.
Q: Are there update delays or limitations?
A: RPP data is published annually, with a lag of about one year.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods for Arizona (AZRPPGOOD), retrieved from FRED.