Sectoral Output Price Deflator for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
IPUBN2123T050000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.33
Year-over-Year Change
45.81%
Date Range
1/1/1987 - 1/1/2024
Summary
The Sectoral Output Price Deflator for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) measures price changes for this specific industry in the United States. This metric is important for economists and policymakers to gauge inflationary pressures and market conditions in the non-metallic mining sector.
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 deflator tracks price changes for the output of establishments primarily engaged in mining or quarrying non-metallic minerals, except fuels. It provides insight into cost and pricing dynamics for products like stone, sand, gravel, clay, and other industrial minerals. The deflator is a key input for analyzing production, investment, and policy in this strategic industry.
Methodology
The data is collected through surveys of producers and calculated as a Fisher Ideal price index.
Historical Context
This sectoral deflator is used by the Federal Reserve, Bureau of Economic Analysis, and other agencies to monitor inflation and evaluate economic performance.
Key Facts
- The non-metallic mineral mining industry accounts for over $50 billion in annual output.
- Prices for the sector's products like stone, sand, and gravel directly impact construction costs.
- The deflator uses 2012 as the base year for indexing price changes.
FAQs
Q: What does this economic trend measure?
A: This trend measures price changes for the output of establishments primarily engaged in mining or quarrying non-metallic minerals, excluding fuels, such as stone, sand, gravel, and clay.
Q: Why is this trend relevant for users or analysts?
A: This sectoral deflator provides important insights into inflationary pressures and market conditions in the non-metallic mining industry, which has significant impacts on construction, manufacturing, and other major economic sectors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of producers and calculated as a Fisher Ideal price index.
Q: How is this trend used in economic policy?
A: This deflator is used by the Federal Reserve, Bureau of Economic Analysis, and other agencies to monitor inflation and evaluate economic performance in the mining and construction-related industries.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Sectoral Output Price Deflator for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States (IPUBN2123T050000000), retrieved from FRED.