Implicit Regional Price Deflator: Metropolitan Portion for Tennessee
TNMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.52
Year-over-Year Change
29.01%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator (IRPD) for the metropolitan portion of Tennessee measures regional price differences across the state. It is a key metric for understanding cost-of-living variations and guiding economic policies.
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 IRPD provides a more localized and accurate measure of price levels compared to national indices. It is used by policymakers, researchers, and businesses to analyze regional economic conditions and cost competitiveness within Tennessee.
Methodology
The IRPD is calculated by the U.S. Bureau of Economic Analysis using data on prices of consumer goods and services.
Historical Context
The IRPD helps inform decisions around regional economic development, cost-of-living adjustments, and targeted public investments.
Key Facts
- The IRPD has a base year of 2012.
- Tennessee's metro IRPD was 100.1 in 2021.
- The IRPD allows comparisons of real incomes across Tennessee regions.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator (IRPD) for the metropolitan portion of Tennessee measures regional price differences across the state.
Q: Why is this trend relevant for users or analysts?
A: The IRPD provides a more localized and accurate measure of price levels compared to national indices, informing decisions around regional economic development, cost-of-living adjustments, and targeted public investments.
Q: How is this data collected or calculated?
A: The IRPD is calculated by the U.S. Bureau of Economic Analysis using data on prices of consumer goods and services.
Q: How is this trend used in economic policy?
A: The IRPD helps policymakers, researchers, and businesses analyze regional economic conditions and cost competitiveness within Tennessee, guiding decisions around economic development and public investments.
Q: Are there update delays or limitations?
A: The IRPD data is updated regularly by the U.S. Bureau of Economic Analysis, with some potential delays in publication.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Metropolitan Portion for Tennessee (TNMPIRPD), retrieved from FRED.