Regional Price Parities: Services: Other for Montana
MTRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.45
Year-over-Year Change
-6.17%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other for Montana measures the difference in the cost of services between Montana and the national average, providing insights into 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
This index reflects the relative prices of a basket of services in Montana compared to the national average, offering valuable information on the cost of living and competitiveness within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Historical Context
This metric is used by policymakers, economists, and businesses to understand regional economic conditions and inform decisions.
Key Facts
- Montana's services prices are 92.9% of the national average.
- The services index has remained relatively stable over the past decade.
- Regional price differences can impact business competitiveness and household budgets.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Services: Other for Montana measures the relative cost of services in the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into regional price variations, which can impact the cost of living, business competitiveness, and economic policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to understand regional economic conditions and inform decisions related to cost of living, competitiveness, and economic development.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is released annually, with some potential delays in publication.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other for Montana (MTRPPSERVEOTH), retrieved from FRED.