Regional Price Parities: All Items for North Carolina
NCRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.14
Year-over-Year Change
0.66%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items for North Carolina tracks regional cost-of-living differences across the United States. This metric is important for economists and policymakers analyzing state-level variations in purchasing power and household expenditures.
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 measure regional price levels relative to the national average, allowing for comparisons of real purchasing power across states. This data is used to adjust income statistics and evaluate regional economic conditions.
Methodology
The U.S. Bureau of Economic Analysis calculates this index based on surveys of consumer prices and expenditures.
Historical Context
This data informs federal and state-level policies on income support, economic development, and cost-of-living adjustments.
Key Facts
- North Carolina's 2021 Regional Price Parity was 90.4, indicating lower costs than the national average.
- The state's relative price level has remained below 100 since at least 2008.
- Housing and utilities are the largest driver of North Carolina's below-average price levels.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities track regional variations in the cost of living and purchasing power across U.S. states and metropolitan areas.
Q: Why is this trend relevant for users or analysts?
A: This data allows for adjusting income statistics to account for differences in real purchasing power, informing policies on income support, economic development, and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates the Regional Price Parities based on surveys of consumer prices and expenditures.
Q: How is this trend used in economic policy?
A: The Regional Price Parities inform federal and state-level policies on income support, economic development, and cost-of-living adjustments by providing insights into regional variations in purchasing power.
Q: Are there update delays or limitations?
A: The Regional Price Parities are published annually, with a delay of around 18 months after the reference year.
Related Trends
Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in North Carolina
NCPETCOALMANNGSP
Average Hourly Earnings of All Employees: Professional and Business Services in North Carolina
SMU37000006000000003
Poverty Tax Exemptions for North Carolina
PEXMNC37A647NCEN
Gross Domestic Product: Federal Civilian in North Carolina
NCGOVFEDCIVNGSP
Average Weekly Hours of All Employees: Leisure and Hospitality in North Carolina
SMU37000007000000002A
All Employees: Wholesale Trade: Merchant Wholesalers, Nondurable Goods in North Carolina
SMU37000004142400001A
Citation
U.S. Federal Reserve, Regional Price Parities: All Items for North Carolina (NCRPPALL), retrieved from FRED.