Implicit Regional Price Deflator for Delaware
DEIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.59
Year-over-Year Change
28.36%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator for Delaware measures changes in the general price level for goods and services in the state. It is a key indicator used to assess the state's economic conditions and cost of living.
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 Implicit Regional Price Deflator for Delaware is a price index that tracks the average change in prices paid by consumers and businesses in the state. It is used to adjust economic data for inflation and provide a more accurate picture of real economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including consumer price indexes and producer price indexes.
Historical Context
Policymakers and economists closely monitor the Implicit Regional Price Deflator to understand inflationary pressures and make informed decisions about fiscal and monetary policies.
Key Facts
- The deflator has a base year of 2012 = 100.
- It is published quarterly by the Bureau of Economic Analysis.
- Delaware's deflator has risen by an average of 1.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator for Delaware measures changes in the overall price level of goods and services purchased by consumers and businesses in the state.
Q: Why is this trend relevant for users or analysts?
A: The deflator is a crucial indicator for understanding the real purchasing power of incomes and the cost of living in Delaware. It helps policymakers and analysts assess the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of price indexes and other economic data sources.
Q: How is this trend used in economic policy?
A: The Implicit Regional Price Deflator for Delaware informs policy decisions related to cost-of-living adjustments, tax policy, and other economic measures affecting the state.
Q: Are there update delays or limitations?
A: The deflator is published quarterly, with a lag of approximately two months. There may be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator for Delaware (DEIRPD), retrieved from FRED.