Regional Price Parities: Services: Other for Delaware
DERPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.68
Year-over-Year Change
0.78%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Delaware measures the relative price level of services in Delaware compared to the national average. This metric is important for economists and policymakers to understand regional cost-of-living 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 Regional Price Parities: Services: Other series provides a geographic price index for services in Delaware, excluding housing, utilities, and government services. This allows for analysis of how the costs of other services like healthcare, transportation, and recreation vary across U.S. states.
Methodology
The data is collected through surveys of consumer prices and then calculated by the Bureau of Economic Analysis.
Historical Context
Policymakers and businesses use this metric to inform decisions around cost-of-living adjustments, regional economic development, and strategic location planning.
Key Facts
- Delaware's services price index was 97.2 in 2021, below the national average.
- Services costs in Delaware are 2.8% lower than the U.S. overall.
- The services price index has remained relatively stable in Delaware in recent years.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Delaware measures the relative price level of services in the state compared to the national average, excluding housing, utilities, and government services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional cost-of-living differences and informing decisions around strategic planning, economic development, and cost-of-living adjustments.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices and then calculated by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to inform decisions around cost-of-living adjustments, regional economic development, and strategic location planning.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with a delay of about 1 year, so the most recent year available may not reflect the current economic conditions.
Related Trends
Average Hourly Earnings of All Employees: Private Service Providing in Delaware
SMU10000000800000003A
Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Delaware
DEOTHSERVERGSP
Gross Domestic Product: Social Assistance (624) in Delaware
DESOCASSNGSP
Average Weekly Earnings of All Employees: Total Private in Delaware
SMU10000000500000011
Net Earnings by Place of Residence in Delaware
DEENET
Pandemic Emergency Unemployment Compensation Continued Claims in Delaware
PEUCCCDE
Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Delaware (DERPPSERVEOTH), retrieved from FRED.