Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index)
IIPISL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.53
Year-over-Year Change
4.71%
Date Range
1/1/2005 - 1/1/2025
Summary
The Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index) measures changes in the prices paid by state and local governments for goods and services used as inputs to production. This metric is crucial for analyzing government spending and inflationary 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 inflation experienced by state and local governments as they purchase a variety of intermediate goods and services required for their operations. It is an important indicator for policymakers assessing the fiscal health and cost pressures facing non-federal government entities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This price index is used by economists and analysts to understand trends in government expenditures and the broader state of the macroeconomy.
Key Facts
- The index uses 2012 as its base year.
- It covers a wide range of goods and services purchased by state and local governments.
- The index has risen steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index) measures changes in the prices paid by state and local governments for the goods and services they use as inputs to their operations.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the fiscal pressures facing state and local governments, as well as broader inflationary trends in the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to understand the cost pressures affecting state and local government budgets, which can inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
Gross Output by Industry: Government
GOG
Gross value added: GDP: General government: Federal
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Real Gross Output of General Government: Intermediate Goods and Services Purchased: Services
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National defense consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Services: Personnel support
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Federal income and excess profits taxes, IRS: Taxes paid by domestic corporations to foreign governments on income earned abroad
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National defense consumption expenditures: Gross output of general government: Intermediate goods and services purchased: Durable goods: Missiles
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Citation
U.S. Federal Reserve, Intermediate Inputs by Industry: Government: State and Local (Chain-Type Price Index) (IIPISL), retrieved from FRED.