Regional Price Parities: Goods: Metropolitan Portion for Indiana
INMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.01
Year-over-Year Change
-2.25%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods: Metropolitan Portion for Indiana measures the relative price level of goods in metropolitan areas of Indiana compared 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 index represents the differences in purchasing power and cost of living across U.S. states and metropolitan areas. It is used by economists and policymakers to analyze regional variations in prices and adjust income data for geographic differences.
Methodology
The data is calculated using a weighted average of prices for a representative basket of consumer goods and services.
Historical Context
This metric provides important context for interpreting economic indicators and developing policies that account for regional price disparities.
Key Facts
- Indiana's metropolitan goods price index is 92.6 (national average = 100).
- This indicates the cost of goods in Indiana metro areas is about 7.4% below the national average.
- The Regional Price Parities index is published annually by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Goods: Metropolitan Portion for Indiana measures the relative price level of goods in metropolitan areas of Indiana compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This index is used by economists and policymakers to analyze regional variations in prices and adjust income data for geographic differences in purchasing power and cost of living.
Q: How is this data collected or calculated?
A: The data is calculated using a weighted average of prices for a representative basket of consumer goods and services.
Q: How is this trend used in economic policy?
A: This metric provides important context for interpreting economic indicators and developing policies that account for regional price disparities.
Q: Are there update delays or limitations?
A: The Regional Price Parities index is published annually by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Metropolitan Portion for Indiana (INMPRPPGOOD), retrieved from FRED.