Regional Price Parities: All Items: Nonmetropolitan Portion for Oregon
ORNMPRPPALL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.52
Year-over-Year Change
5.36%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: All Items: Nonmetropolitan Portion for Oregon measures cost-of-living differences across U.S. states and regions. This data helps inform policymakers and analysts assessing economic conditions and supporting programs.
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 Parity is an index that compares the price level of a given state or metropolitan area to the overall national price level. The nonmetropolitan portion specifically looks at rural and non-urban areas within Oregon.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used to adjust economic statistics and inform policies affecting regional cost-of-living differences.
Key Facts
- Oregon's nonmetropolitan price level was 91.8% of the national average in 2020.
- The nonmetropolitan portion of Oregon has a lower cost of living than the state's metropolitan areas.
- Regional price parities are used to adjust programs like Social Security and Medicare for geographic differences.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: All Items: Nonmetropolitan Portion for Oregon measures the relative price level of consumer goods and services in rural and non-urban areas of the state compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional cost-of-living differences and can inform policies and programs that account for geographic variations in prices.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Regional price parities are used to adjust government programs like Social Security and Medicare to account for geographic differences in the cost of living.
Q: Are there update delays or limitations?
A: The Regional Price Parities data is published annually with a lag, so the most recent year may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Regional Price Parities: All Items: Nonmetropolitan Portion for Oregon (ORNMPRPPALL), retrieved from FRED.