Regional Price Parities: All Items for Montana
MTRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.24
Year-over-Year Change
-4.25%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items for Montana tracks the relative cost of living in Montana compared to the national average. This metric is important for policymakers and economists analyzing regional economic differences and adjusting programs accordingly.
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) measure the differences in price levels across states and metropolitan areas for a given year. The All Items RPP for Montana specifically captures the overall price disparity, including goods and services, between Montana and the national average.
Methodology
The Bureau of Economic Analysis calculates RPPs using a weighted average of price levels for various consumption categories.
Historical Context
RPPs inform policy decisions and cost-of-living adjustments, such as federal program benefits and military/civilian employee compensation.
Key Facts
- Montana's All Items RPP was 95.3 in 2020, indicating prices were 4.7% below the national average.
- RPPs are published annually by the Bureau of Economic Analysis.
- RPPs are used to adjust federal program benefits for regional price differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items for Montana measures the overall price level in Montana relative to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional cost-of-living differences and informing policy decisions, such as adjusting federal program benefits.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates RPPs using a weighted average of price levels across consumption categories.
Q: How is this trend used in economic policy?
A: RPPs are used to adjust federal program benefits and employee compensation to account for regional price variations.
Q: Are there update delays or limitations?
A: RPPs are published annually, with a delay of about one year after the reference year.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items for Montana (MTRPPALL), retrieved from FRED.