Source: U.S. Bureau of Economic Analysis
Release: Real Personal Income for States and Metropolitan Areas
Regional price parities (RPPs) are regional price levels expressed as a percentage of the overall national price level for a given year. The price levels are determined by the average prices paid by consumers for the mix of goods and services consumed in each region. Taking the ratio of RPPs shows the difference in price levels across regions.
Other services refer to services consumption products, except rents, that are used in the estimation of the RPPs. Other services categories include education, food, housing, medical, recreation, transportation, and other services.
For more information about this release go to http://www.bea.gov/newsreleases/regional/rpp/rpp_newsrelease.htm or http://www.bea.gov/regional/methods.cfm.
U.S. Bureau of Economic Analysis, Regional Price Parities: Services: Other for Grand Forks, ND-MN (MSA) [RPPSERVEOTH24220], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/RPPSERVEOTH24220, March 22, 2023.