Implicit Regional Price Deflator for Montana
MTIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.74
Year-over-Year Change
24.31%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator for Montana measures changes in the overall price level for goods and services in the state. It is a key indicator of economic conditions and purchasing power.
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 for Montana is a broad measure of inflation at the state level. It tracks the average change in prices for a comprehensive basket of consumer and producer goods. Economists and policymakers use this index to assess the real purchasing power of incomes and the competitiveness of the Montana economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure data.
Historical Context
The Montana Implicit Regional Price Deflator is used to inform economic and fiscal policy decisions at the state level.
Key Facts
- The base year for the index is 2012 = 100.
- Montana's price level is consistently above the national average.
- The index reached a high of 112.2 in 2022.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator for Montana measures changes in the overall price level for goods and services across the state.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of the real purchasing power of incomes in Montana and the state's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure data.
Q: How is this trend used in economic policy?
A: The Montana Implicit Regional Price Deflator informs economic and fiscal policy decisions at the state level.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator for Montana (MTIRPD), retrieved from FRED.