Regional Price Parities: Services: Other for Massachusetts
MARPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.70
Year-over-Year Change
3.83%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Massachusetts measures the relative price level of services in Massachusetts 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 index provides insight into the cost of living and purchasing power differences across U.S. states. It is used by economists, policymakers, and businesses to understand regional economic conditions and inform decision-making.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of surveys and price data.
Historical Context
Regional price parities are relevant for assessing interstate cost-of-living differences and informing economic and social policies.
Key Facts
- Massachusetts services prices are 11.7% above the national average.
- Regional price parities are published annually by the U.S. Bureau of Economic Analysis.
- Cost-of-living differences can impact wages, tax policy, and social program design.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Massachusetts measures the relative price level of services in the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into regional cost-of-living differences, which is valuable information for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of surveys and price data.
Q: How is this trend used in economic policy?
A: Regional price parities are used to assess interstate cost-of-living differences and inform economic and social policies, such as wages, tax policy, and social program design.
Q: Are there update delays or limitations?
A: The data is published annually by the U.S. Bureau of Economic Analysis, so there may be a delay in the most recent information.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Massachusetts (MARPPSERVEOTH), retrieved from FRED.