Value-Added Output Price Deflator for Private Nonfarm in Utah
IPUZNT050490000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.48
Year-over-Year Change
37.47%
Date Range
1/1/2007 - 1/1/2024
Summary
The Value-Added Output Price Deflator for Private Nonfarm in Utah measures changes in the prices received by private nonfarm businesses in Utah, providing insight into inflationary pressures and economic conditions in the state.
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 deflator tracks the overall price change for goods and services produced in Utah's private nonfarm sector, adjusting for changes in the quality and mix of outputs. It is a key indicator used by economists and policymakers to assess the state's economic performance and inflationary environment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price indexes and production data.
Historical Context
The deflator is utilized by the Federal Reserve and state officials to inform monetary and fiscal policy decisions.
Key Facts
- The deflator has a base year of 2012.
- Utah's private nonfarm sector accounts for over 80% of the state's GDP.
- The deflator is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Value-Added Output Price Deflator for Private Nonfarm in Utah measures changes in the prices received by private businesses in the state's nonfarm sector.
Q: Why is this trend relevant for users or analysts?
A: This deflator provides important insights into inflationary pressures and the overall performance of Utah's private economy, which is crucial information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price indexes and production data.
Q: How is this trend used in economic policy?
A: The Value-Added Output Price Deflator for Private Nonfarm in Utah is utilized by the Federal Reserve and state officials to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The deflator is released quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag in availability.
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Citation
U.S. Federal Reserve, Value-Added Output Price Deflator for Private Nonfarm in Utah (IPUZNT050490000), retrieved from FRED.