Average Price: Electricity per 500 Kilowatt-Hour in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA)
APUS35B72621 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.75
Year-over-Year Change
2.47%
Date Range
11/1/1978 - 6/1/2013
Summary
The Average Price: Electricity per 500 Kilowatt-Hour in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA) measures the average cost of electricity for residential consumers in the Miami metropolitan area. This data point is crucial for understanding trends in the regional cost of living and energy usage.
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
This economic indicator tracks the average cost of 500 kilowatt-hours of electricity in the Miami-Fort Lauderdale-West Palm Beach, FL Combined Statistical Area. It provides valuable insights into residential energy prices, which are a significant component of household budgets and can impact consumer spending and business operations.
Methodology
The data is collected and reported by the U.S. Bureau of Labor Statistics as part of the Consumer Price Index (CPI) program.
Historical Context
Policymakers and market analysts use this trend to assess the affordability of electricity and its impact on the regional economy.
Key Facts
- The average price of 500 kWh of electricity in Miami is $[X] as of [date].
- Electricity prices in Miami have increased by [X]% over the past year.
- Miami's electricity prices are [X]% higher/lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price of 500 kilowatt-hours of electricity for residential consumers in the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: This data point is crucial for understanding the cost of living and energy usage trends in the Miami region, which is important for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Labor Statistics as part of the Consumer Price Index (CPI) program.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the affordability of electricity and its impact on the regional economy, including consumer spending and business operations.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions based on updated information.
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Citation
U.S. Federal Reserve, Average Price: Electricity per 500 Kilowatt-Hour in Miami-Fort Lauderdale-West Palm Beach, FL (CBSA) (APUS35B72621), retrieved from FRED.