Regional Price Parities: Goods for Arkansas
ARRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.14
Year-over-Year Change
-3.95%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods for Arkansas measure the relative price level of goods in Arkansas compared to the national average. This provides insights into the cost of living and purchasing power within the state.
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 Regional Price Parities: Goods for Arkansas index reflects the geographic differences in the prices of a fixed basket of consumer goods. It is used to adjust income and other economic measures for regional price variations, enabling more accurate comparisons across states.
Methodology
The data is collected through the Bureau of Economic Analysis' comprehensive surveys of consumer prices across the United States.
Historical Context
This index helps policymakers and businesses understand the relative cost of living in Arkansas compared to the rest of the country.
Key Facts
- Arkansas has a regional price parity index for goods below the national average.
- The index helps adjust income data to reflect regional cost-of-living differences.
- The index is published annually by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Goods for Arkansas index measures the relative price level of a fixed basket of consumer goods in Arkansas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This index is relevant for understanding regional differences in the cost of living and purchasing power, which is important for accurate economic comparisons and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through comprehensive consumer price surveys conducted by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This index helps policymakers and businesses understand the relative cost of living in Arkansas compared to the rest of the country, informing decisions around income, taxes, and economic development.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually, with a delay of about one year from the reference period.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods for Arkansas (ARRPPGOOD), retrieved from FRED.