Regional Price Parities: Services: Housing: Metropolitan Portion for Utah
UTMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.45
Year-over-Year Change
10.22%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Metropolitan Portion for Utah measures geographic differences in the price of housing services for urban areas within Utah. This metric is crucial for economists and policymakers to understand regional cost-of-living variations.
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 (RPPs) series provides a comprehensive measure of price level differences across U.S. states and metropolitan areas. The Services: Housing: Metropolitan Portion for Utah specifically captures the relative cost of housing services in urban parts of the state compared to the national average.
Methodology
The data is calculated based on Bureau of Economic Analysis (BEA) surveys and modeling.
Historical Context
RPPs are used to adjust economic data like personal income for spatial price differences, informing policy decisions and market analysis.
Key Facts
- Utah's metropolitan housing services cost 92.7% of the national average.
- RPPs are updated annually by the Bureau of Economic Analysis.
- The Services: Housing metric excludes utilities and home ownership.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Housing: Metropolitan Portion for Utah measures the relative price level of housing services in urban areas of the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding regional cost-of-living differences, which informs personal income adjustments, policy decisions, and market analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis based on survey information and economic modeling.
Q: How is this trend used in economic policy?
A: Regional Price Parities are used to adjust economic data like personal income to account for spatial price differences, informing policy decisions.
Q: Are there update delays or limitations?
A: The RPPs are updated annually by the BEA. There may be a lag of several months between the reference year and data publication.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Metropolitan Portion for Utah (UTMPRPPSERVERENT), retrieved from FRED.