Regional Price Parities: Services: Other for Arizona
AZRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.26
Year-over-Year Change
1.72%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Arizona measures the relative price level of services in Arizona compared to the national average. This metric is important for economists and policymakers to understand regional cost-of-living differences across the United States.
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: Services: Other metric provides insight into the purchasing power of incomes in different regions by accounting for differences in the prices of goods and services. This data can inform decisions around cost-of-living adjustments, economic development, and fiscal policy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a survey-based approach.
Historical Context
Regional price parity data is widely used by economists, businesses, and government agencies to analyze economic conditions and support policy decisions.
Key Facts
- The U.S. national average for this metric is 100.
- Arizona's 2020 Regional Price Parity for services was 95.1.
- Prices for services in Arizona are about 5% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Arizona metric measures the relative price level of services in Arizona compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional cost-of-living differences and can inform decisions around economic development, fiscal policy, and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a survey-based approach.
Q: How is this trend used in economic policy?
A: Regional price parity data is widely used by economists, businesses, and government agencies to analyze economic conditions and support policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of about one year.
Related Trends
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EMISSCO2TOTVECPEAZA
Industrial Carbon Dioxide Emissions, Kerosene for Arizona
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Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Arizona
AZTRANGRNDTRANRGSP
Total Wages and Salaries in Arizona
AZWTOT
Real Gross Domestic Product: Private Services-Providing Industries in Arizona
AZPRISERVPRORGSP
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AZACCOMDQGSP
Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Arizona (AZRPPSERVEOTH), retrieved from FRED.