Implicit Regional Price Deflator: Metropolitan Portion for North Carolina
NCMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.85
Year-over-Year Change
30.03%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator: Metropolitan Portion for North Carolina measures changes in the average price level for goods and services in metropolitan areas of the state. It is a key indicator of inflation and 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
This series represents a measure of the price changes experienced by consumers in metropolitan North Carolina. It is used by economists and policymakers to analyze regional price dynamics and adjust economic data for inflation at the state and local level.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including consumer and producer price surveys.
Historical Context
This regional price index is useful for understanding consumer purchasing power and cost-of-living differences across states and metro areas.
Key Facts
- Metropolitan North Carolina accounts for over 75% of the state's population.
- The index has a base year of 2012 = 100.
- The deflator helps adjust economic data for regional price differences.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator for metropolitan North Carolina measures changes in the average price level for goods and services consumed by residents of the state's major urban areas.
Q: Why is this trend relevant for users or analysts?
A: This regional price index is important for understanding consumer purchasing power and cost-of-living differences across states and metro areas, which is crucial for interpreting other economic indicators.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including consumer and producer price surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this regional price deflator to adjust economic data for inflation at the state and local level, helping them analyze true changes in economic conditions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent price changes in metropolitan North Carolina.
Related Trends
Commercial Carbon Dioxide Emissions, Residual Fuel for North Carolina
EMISSCO2VRFCCBNCA
Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in North Carolina
NCMINEXOILGASQGSP
All Employees: Real Estate and Rental and Leasing in North Carolina
SMU37000005553000001A
Chain-Type Quantity Index for Real GDP: Computer Systems Design and Related Services (5415) in North Carolina
NCCPUSYSDSGNQGSP
Housing Inventory: Average Listing Price Month-Over-Month in North Carolina
AVELISPRIMMNC
Chain-Type Quantity Index for Real GDP: Printing and Related Support Activities (323) in North Carolina
NCPRNTQGSP
Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Metropolitan Portion for North Carolina (NCMPIRPD), retrieved from FRED.