Regional Price Parities: Goods for Missouri
MORPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.70
Year-over-Year Change
2.48%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities for Goods in Missouri measures cost-of-living differences across states. It is an important economic indicator for policymakers and businesses assessing regional economic conditions.
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 (RPP) for Goods in Missouri provides a measure of regional price level differences for a specific item category across U.S. states. RPPs are used to adjust statistics for geographic differences in the purchasing power of the dollar.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
RPP data informs economic decisions related to cost-of-living adjustments, relocation, and regional competitiveness.
Key Facts
- Missouri's 2021 RPP for Goods was 91.5% of the national average.
- RPPs are used to adjust federal program payments for geographic cost-of-living differences.
- Regional price variations can impact business location and household migration decisions.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities for Goods in Missouri measures geographic differences in the purchasing power of the dollar for consumer goods across U.S. states.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional cost-of-living differences and informing economic decisions related to relocation, program payments, and competitiveness.
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: RPP data is used to adjust federal program payments for geographic cost-of-living differences and to inform business and household location decisions.
Q: Are there update delays or limitations?
A: The RPP data is published annually with a lag, so it may not reflect the most recent price changes.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods for Missouri (MORPPGOOD), retrieved from FRED.