Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Utah
UTNMPRPPSERVERENT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.35
Year-over-Year Change
-2.17%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Utah measures cost-of-living differences across U.S. states. This data helps policymakers and researchers analyze regional economic disparities.
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 series provides a comprehensive measure of the relative price levels for services, including housing, in nonmetropolitan areas of Utah compared to the overall national average. It is a key input for adjusting government program payments and analyzing regional cost-of-living variations.
Methodology
The data is calculated based on surveys of consumer expenditures and prices collected by the Bureau of Economic Analysis.
Historical Context
This regional price index is used to adjust federal program payments and inform economic policies targeting regional economic imbalances.
Key Facts
- Utah's nonmetropolitan cost of living is 88.3% of the national average.
- Housing costs in nonmetropolitan Utah are 75.6% of the U.S. average.
- Regional price parities are updated annually by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This series measures the relative price levels for services, including housing, in nonmetropolitan areas of Utah compared to the overall national average.
Q: Why is this trend relevant for users or analysts?
A: This data helps policymakers and researchers analyze regional economic disparities and adjust government program payments to account for cost-of-living differences across states.
Q: How is this data collected or calculated?
A: The data is calculated based on surveys of consumer expenditures and prices collected by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This regional price index is used to adjust federal program payments and inform economic policies targeting regional economic imbalances.
Q: Are there update delays or limitations?
A: Regional price parities are updated annually by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Utah (UTNMPRPPSERVERENT), retrieved from FRED.