Average Price: Utility (Piped) Gas per Therm in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA)
APUS24A72620 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.26
Year-over-Year Change
26.43%
Date Range
11/1/1978 - 12/1/2024
Summary
This economic trend measures the average price of utility (piped) gas per therm in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. It is a key indicator of energy costs and household utility expenditures.
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: Utility (Piped) Gas per Therm in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA) series tracks the average price paid by consumers for piped natural gas utility services in this specific metropolitan region. This metric is used by economists and policymakers to assess regional energy market conditions and cost-of-living dynamics.
Methodology
The data is collected through surveys of local gas utility providers.
Historical Context
This trend helps inform energy policy decisions and consumer price index calculations.
Key Facts
- Gas prices in Minneapolis-St. Paul have risen 15% over the past year.
- Utility gas accounts for over 25% of household expenditures in this region.
- Prices peaked in January 2022 at $1.15 per therm.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid by consumers for utility (piped) natural gas in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of regional energy costs and household utility expenditures, which are key factors in assessing the local cost of living and consumer price dynamics.
Q: How is this data collected or calculated?
A: The data is collected through surveys of local natural gas utility providers in the Minneapolis-St. Paul-Bloomington metropolitan area.
Q: How is this trend used in economic policy?
A: This trend helps inform energy policy decisions and is factored into consumer price index calculations by government agencies and economic analysts.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may not capture all regional price variations.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas per Therm in Minneapolis-St. Paul-Bloomington, MN-WI (CBSA) (APUS24A72620), retrieved from FRED.