Implicit Regional Price Deflator for Ohio
OHIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.63
Year-over-Year Change
29.24%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator for Ohio measures changes in the overall price level for goods and services in the state. It is a key indicator used by economists and policymakers to track regional inflation and 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
The Implicit Regional Price Deflator for Ohio is a comprehensive measure of the changes in prices paid by consumers, businesses, and governments for a broad basket of goods and services in the state. It is used to adjust nominal economic data for inflation and provide a more accurate picture of real economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using price information from a variety of sources.
Historical Context
This deflator is an important tool for evaluating the economic performance of Ohio and informing state-level policy decisions.
Key Facts
- The base year for the Ohio deflator is 2012.
- Ohio's deflator reached a high of 114.2 in 2022 Q2.
- The deflator has increased by 12.4% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator for Ohio measures changes in the overall price level for goods and services purchased by consumers, businesses, and governments within the state.
Q: Why is this trend relevant for users or analysts?
A: This deflator is an important tool for economists and policymakers to track regional inflation and evaluate the real economic performance of Ohio.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using price information from a variety of sources.
Q: How is this trend used in economic policy?
A: The Ohio deflator is used to inform state-level policy decisions by providing a more accurate picture of real economic activity in the region.
Q: Are there update delays or limitations?
A: The Ohio deflator data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator for Ohio (OHIRPD), retrieved from FRED.