Implicit Regional Price Deflator: Metropolitan Portion for Delaware
DEMPIRPD • 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 (IRPD) for the metropolitan portion of Delaware measures regional price changes. It is a key economic indicator used to assess inflationary pressures and adjust economic data for regional price differences.
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 IRPD for Delaware's metropolitan areas tracks changes in the prices of goods and services consumed by households. It is a vital statistic for policymakers and analysts to understand regional inflation and cost-of-living dynamics within the state.
Methodology
The IRPD is calculated based on data from the Bureau of Economic Analysis' Regional Price Parities program.
Historical Context
The IRPD helps contextualize other economic metrics like personal income and GDP by providing a regional price adjustment.
Key Facts
- The IRPD is indexed to a national average of 100.
- Delaware's metropolitan IRPD has ranged from 97.5 to 103.2 since 2008.
- The IRPD helps account for cost-of-living differences across U.S. regions.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator (IRPD) for Delaware's metropolitan areas measures changes in the prices of goods and services consumed by households in that region.
Q: Why is this trend relevant for users or analysts?
A: The IRPD is a crucial metric for understanding regional inflation and cost-of-living dynamics, which helps contextualize other economic data like personal income and GDP.
Q: How is this data collected or calculated?
A: The IRPD is calculated based on data from the Bureau of Economic Analysis' Regional Price Parities program.
Q: How is this trend used in economic policy?
A: The IRPD helps policymakers and analysts account for regional price differences when interpreting and adjusting various economic indicators.
Q: Are there update delays or limitations?
A: The IRPD data is published with a lag, and may not fully capture rapid price changes in certain goods or services.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Metropolitan Portion for Delaware (DEMPIRPD), retrieved from FRED.