Regional Price Parities: Goods: Metropolitan Portion for Delaware
DEMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.36
Year-over-Year Change
-4.04%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods: Metropolitan Portion for Delaware measures the relative price levels of goods in Delaware's metropolitan areas 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 metric provides insight into the cost of living and purchasing power in Delaware's urban centers. It is used by economists, policymakers, and businesses to understand regional price differences and how they affect consumer and business decisions.
Methodology
The data is calculated by the Bureau of Economic Analysis using a variety of price surveys and economic indicators.
Historical Context
Regional price parity data informs federal and state policies related to cost-of-living adjustments, economic development incentives, and allocation of resources.
Key Facts
- Delaware's metropolitan goods prices were 99.7% of the national average in 2021.
- Regional price parities measure differences in the cost of the same basket of goods across geographic areas.
- Price parity data is used to adjust federal program payments based on local cost of living.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price levels of a basket of goods in Delaware's metropolitan areas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the cost of living and purchasing power in Delaware, which informs economic and policy decisions.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates regional price parities using a variety of price surveys and economic indicators.
Q: How is this trend used in economic policy?
A: Regional price parity data is used to adjust federal program payments based on local cost of living and to inform economic development policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture rapid, short-term changes in regional price levels.
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Metropolitan Portion for Delaware (DEMPRPPGOOD), retrieved from FRED.