Regional Price Parities: Goods: Metropolitan Portion for Louisiana
LAMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.04
Year-over-Year Change
-4.55%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities (RPP) for Goods: Metropolitan Portion for Louisiana measures geographic differences in consumer prices for goods within the state. This data provides insight into the relative cost of living across metropolitan areas.
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 RPP for Goods: Metropolitan Portion for Louisiana is an index that compares the average prices paid for a basket of consumer goods in Louisiana metropolitan areas to the national average. This metric helps quantify the variation in purchasing power and cost of living within the state.
Methodology
The U.S. Bureau of Economic Analysis collects price data on a variety of consumer goods and services to calculate these regional price parities.
Historical Context
Policymakers and economists use RPP data to analyze regional disparities and inform decisions around economic development, tax policy, and social programs.
Key Facts
- Louisiana's RPP for goods is 89.1 compared to the national average of 100.
- RPP data shows wide variation in consumer prices across Louisiana's metro areas.
- The Baton Rouge metro area has the highest RPP for goods in the state at 92.5.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities for Goods: Metropolitan Portion for Louisiana measures geographic differences in consumer prices for goods within the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the relative cost of living across Louisiana's metropolitan areas, which is important for evaluating regional economic competitiveness and informing policy decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects price data on a variety of consumer goods and services to calculate these regional price parities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use RPP data to analyze regional disparities and inform decisions around economic development, tax policy, and social programs.
Q: Are there update delays or limitations?
A: The RPP data is updated annually by the Bureau of Economic Analysis with a 1-2 year lag.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Metropolitan Portion for Louisiana (LAMPRPPGOOD), retrieved from FRED.