Per Capita Personal Consumption Expenditures: Services: Housing and Utilities for Minnesota
MNPCEPCHOUSUTL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,031.00
Year-over-Year Change
57.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on housing and utilities services in Minnesota. It is a key indicator of consumer spending and living costs in the state.
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 Per Capita Personal Consumption Expenditures: Services: Housing and Utilities for Minnesota series tracks inflation-adjusted spending by Minnesota residents on housing-related services such as rent, electricity, and natural gas. This metric provides insight into the cost of living and consumer behavior in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess economic conditions and consumer demand in Minnesota.
Key Facts
- Minnesota's per capita housing and utilities spending in 2022 was $13,289.
- This metric has increased by 3.2% annually on average over the past decade.
- Housing and utilities account for over 20% of total personal consumption in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures inflation-adjusted per capita personal consumption expenditures on housing and utilities services in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the cost of living and consumer behavior in Minnesota, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for the state of Minnesota.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess economic conditions, consumer demand, and the cost of living in Minnesota, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Housing and Utilities for Minnesota (MNPCEPCHOUSUTL), retrieved from FRED.