Regional Price Parities: Services: Other for Mississippi
MSRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.20
Year-over-Year Change
-0.19%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parity for Services: Other in Mississippi measures geographic differences in the prices of non-housing services across the United States. This metric is important for policymakers analyzing regional cost-of-living disparities.
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 Parity for Services: Other in Mississippi is one component of the Bureau of Economic Analysis' broader Regional Price Parity data. It provides insights into the relative affordability of non-housing services, such as healthcare, utilities, and other consumer expenditures, compared to the national average.
Methodology
The data is calculated using a weighted average of prices for a representative basket of goods and services.
Historical Context
Regional price parities help inform policy decisions related to programs, wages, and cost-of-living adjustments.
Key Facts
- Mississippi's services price parity was 87.5% of the national average in 2020.
- Regional price parities account for geographic differences in the cost of living.
- Parity data is used to adjust federal program payments and employee compensation.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parity for Services: Other in Mississippi measures the relative cost of non-housing services, such as healthcare and utilities, 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 informing policy decisions related to federal programs, wages, and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis using a weighted average of prices for a representative basket of goods and services.
Q: How is this trend used in economic policy?
A: Regional price parities help inform policy decisions related to federal program payments, employee compensation, and other initiatives that account for geographic differences in the cost of living.
Q: Are there update delays or limitations?
A: The Regional Price Parity data is published annually by the Bureau of Economic Analysis, with a typical lag of about a year.
Related Trends
Housing Inventory: Median Listing Price Month-Over-Month in Mississippi
MEDLISPRIMMMS
Chain-Type Quantity Index for Real GDP: Private Industries in Mississippi
MSPIQGSP
Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Mississippi
MSFININSREALRGSP
All Employees: Financial Activities: Finance and Insurance in Mississippi
SMS28000005552000001
All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Mississippi
SMS28000006054000001
Monthly State Retail Sales: Health and Personal Care Stores in Mississippi
MSRSMS446
Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Mississippi (MSRPPSERVEOTH), retrieved from FRED.