Average Price: Electricity per 500 Kilowatt-Hour in Chicago-Naperville-Elgin, IL-IN-WI (CBSA)
APUS23A72621 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56.67
Year-over-Year Change
-16.81%
Date Range
11/1/1978 - 6/1/2013
Summary
This economic trend tracks the average price of electricity per 500 kilowatt-hours in the Chicago-Naperville-Elgin metropolitan area. It serves as an important indicator for monitoring utility costs and the cost of living in a major U.S. urban region.
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 Chicago-Naperville-Elgin, IL-IN-WI (CBSA) represents the typical residential electricity rate for a standard consumption level in this metropolitan statistical area. It is used by policymakers, analysts, and consumers to understand trends in regional utility costs and energy affordability.
Methodology
The data is collected through surveys of local electricity providers by the U.S. Bureau of Labor Statistics.
Historical Context
This electricity price trend is relevant for assessing the cost of living, household budgets, and the broader economic climate in the Chicago metropolitan region.
Key Facts
- Chicago metro area has a population of over 9 million.
- Electricity accounts for a significant portion of household budgets.
- Prices have risen steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average price of electricity per 500 kilowatt-hours in the Chicago-Naperville-Elgin metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: This electricity price metric is important for understanding trends in regional utility costs and the overall cost of living in the Chicago metro area.
Q: How is this data collected or calculated?
A: The data is collected through surveys of local electricity providers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This electricity price trend is relevant for policymakers, analysts, and consumers assessing the economic climate and cost of living in the Chicago metropolitan region.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the trend only covers the Chicago metropolitan statistical area.
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Citation
U.S. Federal Reserve, Average Price: Electricity per 500 Kilowatt-Hour in Chicago-Naperville-Elgin, IL-IN-WI (CBSA) (APUS23A72621), retrieved from FRED.