Regional Price Parities: All Items: Metropolitan Portion for Indiana
INMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.37
Year-over-Year Change
-0.67%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Metropolitan Portion for Indiana measures the cost of living in metropolitan areas of Indiana relative 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 represents the regional price differences across metropolitan areas within Indiana, providing insights into the geographic variation in the purchasing power of consumers and wages. It is a key metric for businesses, policymakers, and researchers analyzing economic conditions and cost-of-living adjustments.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral method to compare prices across regions.
Historical Context
The Regional Price Parities are used to adjust income and other economic measures for geographic differences in the cost of living.
Key Facts
- Indiana's regional price parity was 89.7 in 2020, indicating a lower cost of living compared to the national average.
- The regional price parity for metropolitan areas in Indiana has remained below 100 since the metric was first published in 2008.
- Cost-of-living differences can significantly impact purchasing power, wages, and standards of living across regions.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Metropolitan Portion for Indiana measures the relative cost of living in metropolitan areas of Indiana compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the geographic variation in the purchasing power of consumers and wages, which is crucial for businesses, policymakers, and researchers analyzing economic conditions and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral method to compare prices across regions.
Q: How is this trend used in economic policy?
A: The Regional Price Parities are used to adjust income and other economic measures for geographic differences in the cost of living, informing policy decisions and economic analysis.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with a lag, and may not fully capture rapid changes in regional price differences.
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Citation
U.S. Bureau of Economic Analysis, Regional Price Parities: All Items: Metropolitan Portion for Indiana (INMPRPPALL), retrieved from FRED.