Implicit Regional Price Deflator: Nonmetropolitan Portion for Mississippi
MSNMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.83
Year-over-Year Change
28.30%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator: Nonmetropolitan Portion for Mississippi measures the price changes in goods and services consumed by households in non-metropolitan areas of Mississippi. This metric is important for economists and policymakers to understand regional price variations within a state.
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 Implicit Regional Price Deflator (IRPD) is an index that tracks the changes in prices faced by consumers in different geographic areas. The nonmetropolitan portion focuses specifically on price trends in rural and small-town regions of Mississippi, providing insight into cost-of-living dynamics outside major urban centers.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer expenditure surveys and other economic indicators.
Historical Context
The IRPD helps inform policy decisions and market analyses by revealing regional price differences within a state.
Key Facts
- The IRPD is indexed to a base year of 2012.
- Nonmetropolitan areas make up about 44% of Mississippi's population.
- Tracking regional price trends is crucial for understanding geographic differences in standard of living.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator: Nonmetropolitan Portion for Mississippi measures changes in the prices of goods and services consumed by households in rural and small-town areas of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into regional price variations within Mississippi, which is crucial for understanding differences in the cost of living and standard of living across the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer expenditure surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: The Implicit Regional Price Deflator helps inform policy decisions and market analyses by revealing regional price differences within a state, which is relevant for understanding geographic differences in standard of living.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Federal Reserve, but there may be some delays in data availability.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Nonmetropolitan Portion for Mississippi (MSNMPIRPD), retrieved from FRED.