Regional Price Parities: All Items: Nonmetropolitan Portion for Idaho
IDNMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.71
Year-over-Year Change
-4.89%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Nonmetropolitan Portion for Idaho measures cost-of-living differences across the state's nonmetropolitan areas. This data is important for understanding regional economic disparities and informing policies aimed at promoting economic development.
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 for Idaho's nonmetropolitan areas provide a way to compare the purchasing power of incomes across different parts of the state. This metric adjusts for geographic differences in the prices of consumer goods and services, allowing for more accurate comparisons of real economic conditions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of price surveys and economic data.
Historical Context
Policymakers and economists use this index to assess regional cost-of-living variations and make informed decisions about resource allocation and economic development programs.
Key Facts
- The index uses 2012 as the base year with a value of 100.
- Idaho's nonmetropolitan areas had an index value of 90.3 in 2021.
- Nonmetropolitan areas typically have lower price levels than metropolitan areas.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Nonmetropolitan Portion for Idaho measures geographic differences in the prices of consumer goods and services across the state's nonmetropolitan areas.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional economic disparities and informing policies aimed at promoting economic development in nonmetropolitan parts of Idaho.
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 price surveys and economic data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess regional cost-of-living variations and make informed decisions about resource allocation and economic development programs.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with a lag, so the most recent year available may not reflect the current economic conditions.
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Citation
U.S. Bureau of Economic Analysis, Regional Price Parities: All Items: Nonmetropolitan Portion for Idaho (IDNMPRPPALL), retrieved from FRED.