Regional Price Parities: All Items: Metropolitan Portion for Maine
MEMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.27
Year-over-Year Change
3.37%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Metropolitan Portion for Maine measures geographic differences in the cost of living across U.S. metropolitan areas. This data is important for economic analysis and policy decisions that account for regional price variations.
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 Regional Price Parities (RPPs) are a set of spatial price indexes that measure the differences in price levels across U.S. states and metropolitan areas relative to the national average. The all-items RPP for the metropolitan portion of Maine provides insights into the relative affordability of goods and services in that region.
Methodology
The RPPs are calculated by the Bureau of Economic Analysis using price data from the Consumer Price Index and other sources.
Historical Context
Policymakers and analysts use RPPs to adjust economic data for regional price differences, informing decisions on cost-of-living adjustments, investments, and economic development.
Key Facts
- The all-items RPP for metropolitan Maine is 92.3 (2021).
- Maine's metropolitan RPP is below the national average of 100.
- RPPs are used to adjust personal income and other data for regional price differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Metropolitan Portion for Maine measures the relative cost of living in metropolitan areas of Maine compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional price differences and adjusting economic indicators like personal income to account for the varying cost of living across the United States.
Q: How is this data collected or calculated?
A: The Regional Price Parities are calculated by the Bureau of Economic Analysis using price data from the Consumer Price Index and other sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use RPPs to inform decisions on cost-of-living adjustments, investments, and economic development strategies that account for regional price variations.
Q: Are there update delays or limitations?
A: The RPP data is published annually with a lag, and may not fully capture rapid changes in regional price levels.
Related Trends
Real Gross Domestic Product: Finance and Insurance (52) in Maine
MEFININSRQGSP
Average Weekly Earnings of All Employees: Goods Producing in Maine
SMU23000000600000011
All Employees: Financial Activities: Finance and Insurance in Maine
SMS23000005552000001
All Employees: Professional, Scientific, and Technical Services in Maine
SMU23000006054000001A
Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Maine
MEPCEHCE
Real Gross Domestic Product: Primary Metal Manufacturing (331) in Maine
MEPRIMETMANRGSP
Citation
U.S. Federal Reserve, Regional Price Parities: All Items: Metropolitan Portion for Maine (MEMPRPPALL), retrieved from FRED.