Regional Price Parities: Services: Other: Metropolitan Portion for Indiana
INMPRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.17
Year-over-Year Change
1.48%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other: Metropolitan Portion for Indiana measures differences in the prices of services across metropolitan areas in the state. This data is critical for understanding cost-of-living variations and informing economic policy decisions.
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 data provides a comprehensive view of price level differences across U.S. states and metropolitan areas, with the 'Services: Other' component capturing costs for a range of professional and personal services. This metric is widely used by economists, policymakers, and businesses to assess relative affordability and purchasing power.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral index approach based on actual price observations.
Historical Context
Regional price data informs a variety of policy decisions, from cost-of-living adjustments to federal program allocations.
Key Facts
- Indiana's metropolitan services prices are 92.3% of the national average.
- Prices vary significantly across Indiana's major metro areas.
- This data is used to adjust federal program payments for regional cost differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other metric measures differences in the prices of a variety of services across metropolitan areas within the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data is critical for understanding regional cost-of-living variations and informing economic policy decisions, such as cost-of-living adjustments and federal program allocations.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral index approach based on actual price observations.
Q: How is this trend used in economic policy?
A: Regional price data, including this metric for Indiana's metropolitan services, informs a variety of policy decisions, from cost-of-living adjustments to federal program allocations.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with a lag, and may not capture rapid or short-term price changes.
Related Trends
Per Capita Personal Consumption Expenditures: Total for Indiana
INPCEPC
Real Gross Domestic Product: Retail Trade (44-45) in Indiana
INRETAILRQGSP
All Employees: Wholesale Trade in Indiana
SMS18000004100000001
Gross Domestic Product: Legal Services (5411) in Indiana
INLEGALNGSP
Real Gross Domestic Product: Information (51) in Indiana
ININFORQGSP
Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Indiana
INAGRNGSP
Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other: Metropolitan Portion for Indiana (INMPRPPSERVEOTH), retrieved from FRED.