Regional Price Parities: Goods: Metropolitan Portion for North Dakota
NDMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.92
Year-over-Year Change
-0.45%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities for Goods: Metropolitan Portion for North Dakota measures the relative price level of consumer goods and services in the state's metropolitan areas compared to the national average.
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 economic indicator provides insights into the purchasing power and cost of living in North Dakota's urban centers. It is used by policymakers, economists, and businesses to understand regional variations in consumer prices and make informed decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a survey of consumer prices.
Historical Context
This metric is relevant for understanding regional economic competitiveness and the real value of incomes across different markets.
Key Facts
- North Dakota's metro goods prices averaged 96.5% of the national level in 2021.
- The state's metro goods prices have been below the U.S. average since 2008.
- Lower consumer prices can contribute to a higher standard of living in North Dakota.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities for Goods: Metropolitan Portion for North Dakota measures the relative price level of consumer goods and services in the state's metropolitan areas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the purchasing power and cost of living in North Dakota's urban centers, which is important for policymakers, economists, and businesses making decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a survey of consumer prices.
Q: How is this trend used in economic policy?
A: This metric is relevant for understanding regional economic competitiveness and the real value of incomes across different markets.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is typically released annually with a lag, so there may be delays in accessing the most recent information.
Related Trends
Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in North Dakota
NDTRANGRNDTRANRGSP
Total Carbon Dioxide Emissions From All Sectors, Natural Gas for North Dakota
EMISSCO2TOTVTTNGNDA
All Employees: Government: State Government Educational Services in North Dakota
SMU38000009092161101SA
Housing Inventory: Price Increased Count in North Dakota
PRIINCCOUND
Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in North Dakota
MEDLISPRIPERSQUFEEYYND
Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in North Dakota
NDOTHSERVEQGSP
Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Metropolitan Portion for North Dakota (NDMPRPPGOOD), retrieved from FRED.