Regional Price Parities: Services: Housing: Metropolitan Portion for District of Columbia
DCMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
168.54
Year-over-Year Change
-11.07%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Metropolitan Portion for District of Columbia measures the relative cost of services and housing in the District of Columbia compared to the national average.
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 index provides a geographic adjustment for differences in the regional cost of living, which is important for economic analysis and policy decisions that require spatial comparisons across the United States.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral price index methodology.
Historical Context
Policymakers and analysts use this data to understand regional variations in the cost of living.
Key Facts
- The index is benchmarked to the national average of 100.
- The Washington DC metro area has historically had a higher cost of living than the national average.
- The index accounts for geographic differences in the cost of housing and other services.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Housing: Metropolitan Portion for District of Columbia measures the relative cost of services and housing in the Washington DC metro area compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This index is important for understanding regional variations in the cost of living, which is crucial for economic analysis and policy decisions that require spatial comparisons across the United States.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a multilateral price index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand regional differences in the cost of living, which informs decisions related to wages, cost-of-living adjustments, and other policies.
Q: Are there update delays or limitations?
A: The data is updated annually and may have a short delay in publication.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Metropolitan Portion for District of Columbia (DCMPRPPSERVERENT), retrieved from FRED.