Regional Price Parities: All Items: Metropolitan Portion for Louisiana
LAMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.21
Year-over-Year Change
-5.16%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parity (RPP) for Louisiana measures the price level of consumer goods and services in the state relative to the national average. It is an important economic indicator for understanding 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 RPP is calculated as the ratio of a state's price level to the overall national price level. It provides insights into how prices vary across different geographic areas, which is useful for policymakers and analysts evaluating regional economic conditions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a combination of consumer price data and other economic statistics.
Historical Context
The RPP is used to adjust personal income for regional price differences, helping researchers and policymakers understand real standards of living across states.
Key Facts
- Louisiana's RPP is 89.5, meaning prices are about 10.5% lower than the national average.
- The RPP has declined from 91.4 in 2008, indicating that prices in Louisiana have fallen relative to the U.S.
- RPPs are used to calculate real personal income, an important measure of economic well-being.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parity (RPP) for Louisiana measures the price level of consumer goods and services in the state relative to the national average.
Q: Why is this trend relevant for users or analysts?
A: The RPP provides insights into how prices vary across different geographic areas, which is useful for policymakers and analysts evaluating regional economic conditions and cost-of-living differences.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a combination of consumer price data and other economic statistics.
Q: How is this trend used in economic policy?
A: The RPP is used to adjust personal income for regional price differences, helping researchers and policymakers understand real standards of living across states.
Q: Are there update delays or limitations?
A: The RPP data is updated annually, with some lag in the most recent data.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items: Metropolitan Portion for Louisiana (LAMPRPPALL), retrieved from FRED.