Regional Price Parities: Services: Other for Minnesota
MNRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.34
Year-over-Year Change
1.10%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Minnesota measures the relative cost of services, excluding housing, in 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 metric provides insight into the geographic differences in the prices of various services across the United States. It is used by economists and policymakers to analyze the cost of living and make informed decisions regarding economic development and regional competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
The Regional Price Parities are important for understanding regional economic conditions and informing policy decisions.
Key Facts
- Minnesota's services prices are 98.3% of the national average.
- The Regional Price Parities are published annually by the BEA.
- The data is used to adjust incomes for geographic price differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Minnesota measures the relative cost of services, excluding housing, in Minnesota compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into geographic differences in the prices of various services, which is important for understanding regional economic conditions and informing policy 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 are used by economists and policymakers to analyze the cost of living and make informed decisions regarding economic development and regional competitiveness.
Q: Are there update delays or limitations?
A: The Regional Price Parities are published annually by the BEA, so there may be a delay in the most recent data being available.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Minnesota (MNRPPSERVEOTH), retrieved from FRED.