Regional Price Parities: Goods: Metropolitan Portion for Hawaii
HIMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.91
Year-over-Year Change
-3.37%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods: Metropolitan Portion for Hawaii measures the relative price level of goods in Hawaii's metropolitan areas compared to the national average.
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
This trend provides insights into the cost of living and purchasing power in Hawaii's urban areas. It is an important indicator for policymakers, businesses, and consumers evaluating economic conditions and cost-of-living differences.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and price data.
Historical Context
This metric is used to adjust economic data and inform policy decisions related to the Hawaiian economy.
Key Facts
- Hawaii has the highest cost of living in the U.S.
- Goods prices in Hawaii's metro areas are about 17% above the national average.
- The Regional Price Parity index helps adjust economic data for Hawaii's high costs.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Goods: Metropolitan Portion for Hawaii measures the relative price level of goods in Hawaii's metropolitan areas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the cost of living and purchasing power in Hawaii's urban areas, which is important for policymakers, businesses, and consumers evaluating economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and price data.
Q: How is this trend used in economic policy?
A: This metric is used to adjust economic data and inform policy decisions related to the Hawaiian economy.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is typically published with a 1-2 year lag, but provides a valuable long-term perspective on cost-of-living differences across the U.S.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Metropolitan Portion for Hawaii (HIMPRPPGOOD), retrieved from FRED.