Sectoral Output Price Deflator for Mining: Support Activities for Mining (NAICS 21311) in the United States
IPUBN21311T050000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.68
Year-over-Year Change
10.57%
Date Range
1/1/1987 - 1/1/2024
Summary
The Sectoral Output Price Deflator for Mining: Support Activities for Mining (NAICS 21311) in the United States measures changes in the prices charged by companies providing support services for mining operations. This metric is a key indicator of inflation and cost pressures within the domestic mining industry.
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 Sectoral Output Price Deflator tracks the average change in prices received by U.S. companies that provide services such as exploration, drilling, and support activities to the mining sector. This index is used by policymakers, industry analysts, and economists to assess cost trends and inflationary dynamics in a critical component of the domestic energy and materials supply chain.
Methodology
The data is collected through surveys of mining support service providers and calculated as a price index by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in this deflator are closely monitored by the Federal Reserve and other agencies to inform monetary and fiscal policy decisions.
Key Facts
- The deflator has a base year of 2012.
- Mining support services account for over 10% of total U.S. mining industry GDP.
- Prices rose 10.2% in 2022 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: The Sectoral Output Price Deflator for Mining: Support Activities for Mining (NAICS 21311) measures changes in the prices charged by companies providing support services to the U.S. mining industry, such as exploration, drilling, and other operational activities.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of cost pressures and inflationary dynamics within the domestic mining sector, which has significant implications for energy, materials, and industrial production.
Q: How is this data collected or calculated?
A: The data is collected through surveys of mining support service providers and calculated as a price index by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in this deflator are closely monitored by the Federal Reserve and other agencies to inform monetary and fiscal policy decisions that affect the mining industry and broader economy.
Q: Are there update delays or limitations?
A: The Sectoral Output Price Deflator is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Sectoral Output Price Deflator for Mining: Support Activities for Mining (NAICS 21311) in the United States (IPUBN21311T050000000), retrieved from FRED.