Regional Price Parities: Goods for Delaware
DERPPGOOD • 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 for Delaware metric measures the relative price level of goods in Delaware compared to the national average. This data is important for understanding cost-of-living differences across U.S. regions.
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 (RPPs) are a set of indexes that measure the differences in price levels across U.S. states and metropolitan areas relative to the national level. The Goods RPP for Delaware specifically captures variations in the prices of consumer goods within the state.
Methodology
The U.S. Bureau of Economic Analysis calculates RPPs annually using data on the prices of various goods and services.
Historical Context
Economists and policymakers utilize RPP data to inform decisions around cost-of-living adjustments, regional economic development, and household purchasing power analysis.
Key Facts
- Delaware's Goods RPP was 98.6 in 2020, indicating prices were 1.4% below the national average.
- RPPs adjust for geographic differences in the cost of goods and services, unlike nominal personal income comparisons.
- RPP data helps organizations set appropriate compensation and benefits for employees in different regions.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Goods for Delaware metric measures the relative price level of consumer goods in Delaware 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, which informs economic development, compensation, and household affordability analysis.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates RPPs annually using survey data on consumer goods and services prices.
Q: How is this trend used in economic policy?
A: Economists and policymakers utilize RPP data to adjust cost-of-living measures, inform regional economic strategies, and analyze household purchasing power.
Q: Are there update delays or limitations?
A: The RPP data is published annually with a 1-2 year lag, and may not fully capture rapid changes in regional price dynamics.
Related Trends
Accommodation and Food Services Wages and Salaries in Delaware
DEWACC
Average Hourly Earnings of All Employees: Manufacturing in Delaware
SMU10000003000000003A
Number of Identified Exporters to Austria from Delaware
DEAUTA475SCEN
Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Delaware
DETRADEQGSP
Civilian Labor Force for Delaware
CIVLFDE
All Employees: Manufacturing: Durable Goods in Delaware
SMS10000003100000001
Citation
U.S. Bureau of Economic Analysis, Regional Price Parities: Goods for Delaware (DERPPGOOD), retrieved from FRED.