Regional Price Parities: Goods: Nonmetropolitan Portion for Arkansas
ARNMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.12
Year-over-Year Change
-2.80%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities (RPPs) for Goods: Nonmetropolitan Portion for Arkansas measure geographic differences in the prices of consumer goods and services. This metric is crucial for understanding variations in the real purchasing power of incomes across different regions.
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 RPP for Goods: Nonmetropolitan Portion for Arkansas is an index that compares the average prices of consumer goods and services in nonmetropolitan areas of Arkansas to the national average. It provides insights into the relative cost of living in these regions compared to the U.S. as a whole.
Methodology
The data is collected through extensive surveys of consumer prices across the country.
Historical Context
This metric informs policy decisions and economic analyses related to regional economic disparities and standards of living.
Key Facts
- The RPP for Goods: Nonmetropolitan Portion for Arkansas is 89.4 in 2020.
- This means prices in nonmetropolitan Arkansas are 10.6% below the national average.
- The RPP for Goods has remained relatively stable in Arkansas over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures geographic differences in the prices of consumer goods and services in nonmetropolitan areas of Arkansas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding variations in the real purchasing power of incomes across different regions, which informs policy decisions and economic analyses related to regional economic disparities and standards of living.
Q: How is this data collected or calculated?
A: The data is collected through extensive surveys of consumer prices across the country.
Q: How is this trend used in economic policy?
A: This metric informs policy decisions and economic analyses related to regional economic disparities and standards of living.
Q: Are there update delays or limitations?
A: The RPP data is updated annually, so there may be a lag in the most recent information.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Nonmetropolitan Portion for Arkansas (ARNMPRPPGOOD), retrieved from FRED.