Regional Price Parities: All Items for Louisiana
LARPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.35
Year-over-Year Change
-4.69%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities (RPP) measure the differences in price levels across U.S. states and metropolitan areas compared to the national average. The All Items RPP for Louisiana tracks the overall cost of living in the state relative to the rest of the country.
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 All Items RPP for Louisiana is one of the regional price parity measures published annually by the U.S. Bureau of Economic Analysis. It provides insight into geographic differences in purchasing power and the relative affordability of goods and services across the United States.
Methodology
The RPP data is calculated using price surveys and other statistical methods.
Historical Context
Policymakers and analysts use the RPP data to compare living costs and make informed decisions about economic development, public programs, and regional competitiveness.
Key Facts
- Louisiana's 2021 All Items RPP was 90.2, meaning goods and services were 9.8% less expensive than the national average.
- RPP data is used to adjust government program payments, such as Social Security, to account for geographic differences in purchasing power.
- The RPP index is calculated using thousands of individual prices collected through the Consumer Price Index survey.
FAQs
Q: What does this economic trend measure?
A: The All Items Regional Price Parity for Louisiana measures the overall cost of living in the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: The RPP data provides important insights into regional differences in purchasing power and the relative affordability of goods and services, which is valuable for policymakers, businesses, and consumers.
Q: How is this data collected or calculated?
A: The RPP data is calculated by the U.S. Bureau of Economic Analysis using price surveys and other statistical methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the RPP data to compare living costs, make informed decisions about economic development, and adjust government program payments to account for geographic differences in purchasing power.
Q: Are there update delays or limitations?
A: The RPP data is published annually, with a delay of about 1 year. There may be limitations in the price data coverage for some rural or remote areas.
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Citation
U.S. Bureau of Economic Analysis, Regional Price Parities: All Items for Louisiana (LARPPALL), retrieved from FRED.