Regional Price Parities: All Items: Nonmetropolitan Portion for Minnesota
MNNMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.81
Year-over-Year Change
-0.21%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Nonmetropolitan Portion for Minnesota measures regional price differences for all consumer goods and services in non-metropolitan areas of Minnesota compared 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 index provides insights into the relative cost of living in non-metropolitan areas of Minnesota, which is valuable information for policymakers, businesses, and households making economic decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
The Regional Price Parities help assess geographic differences in purchasing power and cost of living across the United States.
Key Facts
- Minnesota's non-metropolitan price level was 92.7% of the national average in 2020.
- The index has ranged from 88.4% to 95.6% of the national average over the past decade.
- Regional price differences can significantly impact purchasing power and cost of living.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Nonmetropolitan Portion for Minnesota measures the relative price level of consumer goods and services in non-metropolitan areas of Minnesota compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the cost of living in non-metropolitan Minnesota, which is valuable information for policymakers, businesses, and households making economic decisions.
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: The Regional Price Parities help assess geographic differences in purchasing power and cost of living across the United States, which is relevant for policy decisions related to regional economic development, cost-of-living adjustments, and more.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is typically published with a 1-2 year lag, and may not fully capture short-term price fluctuations.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items: Nonmetropolitan Portion for Minnesota (MNNMPRPPALL), retrieved from FRED.