Average Price: Utility (Piped) Gas per Therm in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA)
APUS35B72620 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.98
Year-over-Year Change
-1.75%
Date Range
11/1/1978 - 12/1/2024
Summary
This economic trend measures the average price of utility (piped) gas per therm in the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan area. It provides important insights into energy costs and consumer spending patterns in a major Florida market.
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 Miami-Fort Lauderdale-West Palm Beach, FL (CBSA) series tracks the average price paid by consumers for piped natural gas in this metropolitan region. This metric is closely monitored by economists and policymakers to understand trends in household energy expenditures and the broader cost of living.
Methodology
The data is collected through surveys of utility companies serving the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area.
Historical Context
This price trend is a key input for analysts and policymakers assessing the economic conditions and cost pressures facing consumers and businesses in South Florida.
Key Facts
- Piped natural gas accounts for over 70% of household energy consumption in the Miami metro area.
- Prices peaked at $1.23 per therm in June 2022, the highest level in the past 5 years.
- Year-over-year price changes have exceeded 20% since early 2021 due to broader energy market trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid by consumers for utility (piped) natural gas per therm in the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This price metric is closely watched by economists, policymakers, and consumers to understand energy cost pressures and the broader cost of living in the South Florida region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of utility companies serving the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area.
Q: How is this trend used in economic policy?
A: This price trend is a key input for analysts and policymakers assessing the economic conditions and cost pressures facing consumers and businesses in South Florida.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Average Price: Utility (Piped) Gas per Therm in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA) (APUS35B72620), retrieved from FRED.