Regional Price Parities: Services: Other for Maryland
MDRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.81
Year-over-Year Change
-4.88%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Maryland measures the geographic differences in the prices of services in Maryland relative 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 economic trend provides insight into the cost of living in Maryland by comparing the prices of services in the state to the national level. It is used by economists, policymakers, and analysts to understand regional variations in the economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric helps inform decisions around economic development, taxation, and cost-of-living adjustments.
Key Facts
- Maryland's services prices are 1.03 times the national average.
- Prices for other services in Maryland are 3% higher than the U.S. overall.
- This metric has been tracked since 2008 by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Maryland measures the geographic differences in the prices of services in Maryland compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the cost of living in Maryland, which is useful for economic development, taxation, and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric helps inform decisions around economic development, taxation, and cost-of-living adjustments in Maryland.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is updated annually by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Maryland (MDRPPSERVEOTH), retrieved from FRED.