Regional Price Parities: Goods: Metropolitan Portion for West Virginia
WVMPRPPGOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.86
Year-over-Year Change
-0.98%
Date Range
1/1/2008 - 1/1/2023
Summary
The Regional Price Parities: Goods: Metropolitan Portion for West Virginia measures the relative cost of a basket of consumer goods and services in West Virginia's metropolitan areas compared to the national average.
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 economic indicator provides insights into the geographic variation in purchasing power and cost of living within the state. It is used by policymakers, businesses, and researchers to understand regional price differences and make informed decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
The Regional Price Parities help interpret other economic measures like personal income and can inform policies related to cost-of-living adjustments.
Key Facts
- West Virginia's metropolitan goods prices were 89.5% of the national average in 2021.
- Regional Price Parities account for geographic differences in the prices of the same set of consumer goods and services.
- The data is published annually by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Regional Price Parities: Goods: Metropolitan Portion for West Virginia measures the relative cost of a basket of consumer goods and services in West Virginia's metropolitan areas compared to the national average.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the geographic variation in purchasing power and cost of living within the state, which is useful for policymakers, businesses, and researchers.
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: The Regional Price Parities help interpret other economic measures like personal income and can inform policies related to cost-of-living adjustments.
Q: Are there update delays or limitations?
A: The data is published annually by the Bureau of Economic Analysis.
Related Trends
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Regional Price Parities: All Items: Nonmetropolitan Portion for West Virginia
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Real Gross Domestic Product: Real Estate (531) in West Virginia
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Personal Consumption Expenditures: Goods: Durable Goods for West Virginia
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Citation
U.S. Federal Reserve, Regional Price Parities: Goods: Metropolitan Portion for West Virginia (WVMPRPPGOOD), retrieved from FRED.