Regional Price Parities: Services: Other: Nonmetropolitan Portion for Hawaii
HINMPRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.86
Year-over-Year Change
2.72%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other: Nonmetropolitan Portion for Hawaii measures the relative price level of services in non-metropolitan areas of Hawaii 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 series is a component of the Regional Price Parities, which provide a measure of the differences in price levels across U.S. states and metropolitan areas. The nonmetropolitan portion for Hawaii is particularly useful for understanding the cost of living and purchasing power in rural areas of the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and statistical modeling.
Historical Context
This metric informs policy decisions and economic analysis related to regional cost-of-living adjustments and economic development in Hawaii.
Key Facts
- Hawaii has the highest cost of living among U.S. states.
- Rural areas of Hawaii have even higher prices than urban centers.
- This metric helps quantify the unique economic challenges faced by Hawaii's non-metropolitan communities.
FAQs
Q: What does this economic trend measure?
A: This metric measures the relative price level of services in non-metropolitan areas of Hawaii compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the unique cost-of-living challenges faced by Hawaii's rural communities and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and statistical modeling.
Q: How is this trend used in economic policy?
A: This metric informs policy decisions and economic analysis related to regional cost-of-living adjustments and economic development in Hawaii.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be lags in availability compared to more frequently reported national-level economic indicators.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other: Nonmetropolitan Portion for Hawaii (HINMPRPPSERVEOTH), retrieved from FRED.