Implicit Regional Price Deflator: Nonmetropolitan Portion for Nebraska
NENMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.59
Year-over-Year Change
28.72%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator (IRPD) for the Nonmetropolitan Portion of Nebraska measures inflation at the regional level. This metric is valuable for economists and policymakers to analyze cost-of-living trends and make informed decisions.
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 IRPD for Nebraska's Nonmetropolitan Portion tracks changes in the prices of goods and services in non-urban areas of the state. This regional price index is used to adjust nominal economic data for geographic cost-of-living differences.
Methodology
The data is calculated based on consumer price surveys and other government sources.
Historical Context
The IRPD helps contextualize economic performance and guide fiscal and monetary policies.
Key Facts
- The IRPD is a complementary metric to the national Consumer Price Index (CPI).
- Nebraska's Nonmetropolitan IRPD has risen by 20% over the past decade.
- Regional price indexes account for geographic differences in the cost of living.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator (IRPD) for Nebraska's Nonmetropolitan Portion measures inflation and cost-of-living changes in non-urban areas of the state.
Q: Why is this trend relevant for users or analysts?
A: The IRPD provides important context for interpreting economic data and performance at the regional level, which is crucial for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is calculated based on consumer price surveys and other government sources.
Q: How is this trend used in economic policy?
A: The IRPD helps guide fiscal and monetary policies by providing insights into regional cost-of-living trends that impact economic performance and standards of living.
Q: Are there update delays or limitations?
A: The IRPD data is published on a regular schedule, but there may be lags or limitations in data collection and reporting.
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Nonmetropolitan Portion for Nebraska (NENMPIRPD), retrieved from FRED.