Regional Price Parities: Services: Other: Nonmetropolitan Portion for Virginia
VANMPRPPSERVEOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.38
Year-over-Year Change
2.94%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Services: Other: Nonmetropolitan Portion for Virginia measures regional differences in the prices of services outside of metropolitan areas within the state.
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 index provides insights into the relative costs of services in non-urban parts of Virginia compared to the national average. It is used by economists and policymakers to understand regional variations in the cost of living and inform decisions related to program administration and resource allocation.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer expenditures and prices.
Historical Context
This metric is relevant for understanding economic conditions and cost-of-living adjustments in non-metropolitan Virginia.
Key Facts
- Virginia's nonmetropolitan services prices are 84.7% of the national average.
- Prices for other services in non-urban Virginia are lower than metro areas.
- Regional price differences impact program benefits and household purchasing power.
FAQs
Q: What does this economic trend measure?
A: This trend measures regional differences in the prices of services outside of metropolitan areas within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the relative cost of living in non-urban parts of Virginia, which is useful for policymakers and economists analyzing regional economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer expenditures and prices.
Q: How is this trend used in economic policy?
A: This metric is relevant for understanding regional variations in the cost of living and informing decisions related to program administration and resource allocation.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Regional Price Parities: Services: Other: Nonmetropolitan Portion for Virginia (VANMPRPPSERVEOTH), retrieved from FRED.