Implicit Regional Price Deflator: Nonmetropolitan Portion for Oregon
ORNMPIRPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.92
Year-over-Year Change
36.79%
Date Range
1/1/2008 - 1/1/2023
Summary
The Implicit Regional Price Deflator (IRPD) for the Nonmetropolitan Portion of Oregon measures regional price differences within the state. It is a key indicator for understanding cost-of-living variations and supporting policy 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 provides a comprehensive assessment of how prices for consumer goods and services differ between metropolitan and nonmetropolitan areas of Oregon. This data helps economists and policymakers analyze regional economic trends and the relative purchasing power of incomes.
Methodology
The IRPD is calculated by the U.S. Bureau of Economic Analysis using data on consumer expenditures and prices.
Historical Context
The IRPD is used to adjust economic data for regional price differences, informing decisions around programs, budgets, and policies.
Key Facts
- The IRPD measures price variation between metro and non-metro areas of Oregon.
- It helps adjust economic data for regional cost-of-living differences.
- The IRPD informs policy decisions around budgets, programs, and regulations.
FAQs
Q: What does this economic trend measure?
A: The Implicit Regional Price Deflator (IRPD) for the Nonmetropolitan Portion of Oregon measures differences in consumer prices between metropolitan and nonmetropolitan areas within the state.
Q: Why is this trend relevant for users or analysts?
A: The IRPD is important for understanding regional cost-of-living variations and adjusting economic data accordingly. It supports policy decisions around budgets, programs, and regulations.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates the IRPD using data on consumer expenditures and prices.
Q: How is this trend used in economic policy?
A: The IRPD is used to adjust economic statistics for regional price differences, informing decisions around government programs, budgets, and policies that account for varying costs of living.
Q: Are there update delays or limitations?
A: The IRPD data is published regularly by the Federal Reserve, but may have some update delays compared to other economic indicators.
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Durable Manufacturing Earnings in Oregon
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Regional Price Parities: Goods for Oregon
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Citation
U.S. Federal Reserve, Implicit Regional Price Deflator: Nonmetropolitan Portion for Oregon (ORNMPIRPD), retrieved from FRED.