Implicit Regional Price Deflator: Metropolitan Portion for Idaho
IDMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.65
Year-over-Year Change
26.71%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator: Metropolitan Portion for Idaho measures inflation in urban areas across the state. It is a key economic indicator used by policymakers to assess cost-of-living trends and the real purchasing power of incomes.
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: Metropolitan Portion for Idaho is a geographic price index that tracks changes in the cost of a fixed basket of consumer goods and services in urban areas of the state. It provides a more localized measure of inflation compared to national indices like the Consumer Price Index.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a combination of price surveys and economic modeling.
Historical Context
This trend is widely referenced by economists, businesses, and government agencies to evaluate regional economic conditions and inform policy decisions.
Key Facts
- The index is calculated quarterly.
- Idaho's metro price index has grown faster than the national CPI in recent years.
- The deflator helps account for geographic variation in the cost of living.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator: Metropolitan Portion for Idaho measures inflation in urban areas across the state. It provides a more localized measure of changes in the cost of living compared to national indices.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding regional economic conditions and the real purchasing power of incomes in Idaho. It informs policy decisions and business strategies that are sensitive to geographic variation in prices.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a combination of price surveys and economic modeling.
Q: How is this trend used in economic policy?
A: The Implicit Regional Price Deflator is widely referenced by economists, businesses, and government agencies to evaluate regional economic conditions and inform policy decisions around cost-of-living, inflation, and regional development.
Q: Are there update delays or limitations?
A: The index is calculated quarterly, so there may be a short delay in the latest data being available. The methodology also relies on modeling, so the deflator may not capture all localized price changes.
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IDTRUCKTRANNGSP
Real Gross Domestic Product: Farms (111-112) in Idaho
IDFARMRGSP
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IDPCEPC
All Employees: Government: State Government in Idaho
SMU16000009092000001
Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Idaho
IDTRANSWAREQGSP
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Metropolitan Portion for Idaho (IDMPIRPD), retrieved from FRED.