Average Price: Electricity per 500 Kilowatt-Hour in Cleveland-Akron, OH (CBSA)
APUA21072621 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.17
Year-over-Year Change
2.71%
Date Range
11/1/1978 - 6/1/2013
Summary
This economic trend measures the average price of electricity per 500 kilowatt-hours in the Cleveland-Akron, OH metropolitan area. It provides important insights into regional utility costs and consumer spending patterns.
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 Average Price: Electricity per 500 Kilowatt-Hour in Cleveland-Akron, OH (CBSA) trend represents the typical cost of residential electricity consumption in this major Midwest metropolitan region. It is a key indicator of household energy expenditures and can inform policy decisions related to energy prices and affordability.
Methodology
The data is collected through surveys of local utility providers and households in the Cleveland-Akron area.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to track regional variations in the cost of living and energy prices.
Key Facts
- Cleveland-Akron is the largest metropolitan area in Ohio.
- Electricity accounts for a significant portion of household budgets.
- Energy costs can impact broader economic conditions and policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price of electricity per 500 kilowatt-hours in the Cleveland-Akron, OH metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into regional utility costs and consumer spending patterns, which can inform policy decisions related to energy prices and affordability.
Q: How is this data collected or calculated?
A: The data is collected through surveys of local utility providers and households in the Cleveland-Akron area.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and market analysts to track regional variations in the cost of living and energy prices.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule, but there may be some delays or limitations in collection and reporting.
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Citation
U.S. Federal Reserve, Average Price: Electricity per 500 Kilowatt-Hour in Cleveland-Akron, OH (CBSA) (APUA21072621), retrieved from FRED.