Regional Price Parities: Goods: Nonmetropolitan Portion for North Carolina
NCNMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.46
Year-over-Year Change
2.01%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods: Nonmetropolitan Portion for North Carolina measures price differences across non-metropolitan areas in the state 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 economic indicator provides insight into the relative cost of living in non-metropolitan regions of North Carolina compared to the overall United States. It is used by policymakers and economists to analyze regional economic trends and cost-of-living variations.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a proprietary methodology.
Historical Context
This metric informs discussions around regional economic development and cost-of-living adjustments.
Key Facts
- North Carolina's non-metro goods prices were 91.4% of the national average in 2020.
- The regional price parity has fluctuated between 88-93% of the U.S. average since 2008.
- This indicator is released annually by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This metric measures the relative price level of goods in non-metropolitan areas of North Carolina compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: It provides important insights into regional cost-of-living differences that can inform economic policy and development decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a proprietary methodology.
Q: How is this trend used in economic policy?
A: This metric informs discussions around regional economic development and cost-of-living adjustments for programs and initiatives.
Q: Are there update delays or limitations?
A: This indicator is released annually with a lag, and may not capture short-term price fluctuations.
Related Trends
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State Tax Collections: T99 Taxes, Not Elsewhere Classified for North Carolina
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Housing Inventory: Price Reduced Count Month-Over-Month in North Carolina
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Spliced Business Formations Within Eight Quarters: Total for All NAICS in North Carolina
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Nonmetropolitan Portion for North Carolina (NCNMPRPPGOOD), retrieved from FRED.