Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index)
IIPIPSL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.40
Year-over-Year Change
-65.41%
Date Range
4/1/2005 - 1/1/2025
Summary
The Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index) measures the price changes of goods and services used as inputs by state and local governments. This metric is a key indicator of government spending and cost pressures.
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 index tracks the prices paid by state and local governments for a variety of intermediate inputs, such as energy, materials, and contracted services. It is used to analyze the cost environment facing government agencies and monitor inflationary trends in the public sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey responses and other government sources.
Historical Context
Policymakers and analysts use this index to assess the fiscal pressures on state and local budgets and the broader macroeconomic implications.
Key Facts
- The index has a base year of 2012=100.
- Intermediate inputs account for over 40% of state and local government spending.
- The index has risen over 3% annually on average since 2015.
FAQs
Q: What does this economic trend measure?
A: The Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index) tracks the price changes of goods and services used as inputs by state and local governments in the United States.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of the cost environment facing state and local governments, which can inform fiscal and budgetary decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey responses and other government sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the fiscal pressures on state and local budgets and the broader macroeconomic implications.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Bureau of Economic Analysis, with a typical 1-2 month publication lag.
Related Trends
Government enterprise gross fixed investment: Federal: Structures
B884RC1A027NBEA
Net lending or net borrowing (-), NIPAs: Government: State and local
AD03RC1Q027SBEA
Government Current Expenditures
GEXPND
Federal Consumption Expenditures and Gross Investment
FGCE
Contributions for government social insurance: Employee and self-employed contributions
B228RC1A027NBEA
Contributions to Percent Change in National Defense Consumption Expenditures and Gross Investment: Consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Durable goods: Ships
B278RN2Q224SBEA
Citation
U.S. Federal Reserve, Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index) (IIPIPSL), retrieved from FRED.