Regional Price Parities: Services: Other: Nonmetropolitan Portion for Missouri
MONMPRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.32
Year-over-Year Change
1.62%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other: Nonmetropolitan Portion for Missouri measures the relative price level of services in nonmetropolitan areas of Missouri compared to the national average. This metric is important for understanding regional cost-of-living differences.
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 Regional Price Parities (RPPs) are a set of interarea price indexes produced by the U.S. Bureau of Economic Analysis. The nonmetropolitan services price index for Missouri reflects the purchasing power of consumer dollars in rural areas of the state compared to the national level.
Methodology
The RPP data is collected through a nationwide survey of consumer prices.
Historical Context
The Missouri nonmetropolitan services price index is used to adjust economic indicators for geographic cost-of-living variation.
Key Facts
- Missouri's nonmetropolitan services price index is currently 88.1 (U.S. = 100).
- This index has increased by 1.2% over the past year.
- Nonmetropolitan areas in Missouri have a lower cost of living than the national average.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other: Nonmetropolitan Portion for Missouri measures the relative price level of services in rural areas of the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional cost-of-living differences and adjusting economic indicators accordingly.
Q: How is this data collected or calculated?
A: The RPP data is collected through a nationwide survey of consumer prices.
Q: How is this trend used in economic policy?
A: The Missouri nonmetropolitan services price index is used to adjust economic indicators for geographic cost-of-living variation.
Q: Are there update delays or limitations?
A: The RPP data is published annually with a delay, and may not fully capture short-term price fluctuations.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other: Nonmetropolitan Portion for Missouri (MONMPRPPSERVEOTH), retrieved from FRED.