INDICATORS

INCOME

ECONOMIC ACTIVITY

•1.2.1 Annual Taxable Retail Sales •1.2.2 Taxable Retail Trade Sales per Capita •1.2.3 GDP per Capita •1.2.4 Total Value of Merchandise Exports •1.2.5 New Business Applications •1.2.6 Share of Small Businesses •1.2.7 Market Value of Agriculture Sales •1.2.8 Total FDIC Bank Deposits •1.2.9 Metro Area Regional Price Parity •1.2.11 GDP by Major Sectors

LABOR FORCE

TOURISM & CULTURE

REAL ESTATE

POVERTY

ECONOMIC VITALITY

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1.2.9 Metro Area Regional Price Parity (Relative to all U.S. Metro Areas))

Why is this important?

The Metro Area Regional Price Parity (RPP) is one of many different types of cost of living measurements. Basically, it compares prices for goods and services occurring in different places at the same time. It is scaled so that 100 represents the national, or average, RPP. For example, if a location has an RPP of 90, they are 10% below the national RPP, and if an area has an RPP of 110, prices overall are 10% higher than the national average of all metro areas. If an area has an RPP of 100, it is equal to the national RPP. This allows for comparisons to other geographies but not over time.

According to the data source, the Bureau of Economic Analysis (BEA), RPP’s are “regional price levels expressed as a percentage of the overall national price level for a given year. The price level is determined by the average prices paid by consumers for the mix of goods and services consumed in each region. The RPPs are calculated using data from the Bureau of Labor Statistics' (BLS) Consumer Price Index (CPI) program and the Census Bureau's American Community Survey (ACS).”

Additionally, there are five different components to the RPP’s calculated and defined by the BEA, which include:

“All Items” are “all the detailed consumption goods and services used in the estimation of the RPPs.”
“Goods”, which are “durable and nondurable consumption goods used in the estimation of the RPPs.”
“Services - Rents” are “rents paid by tenants and an imputed rental value for owner-occupied dwellings.”
"Services - Housing" are "monetary rents paid by tenants for tenant-occupied housing, an imputed rental value for owner-occupied dwellings, the rental value of farm dwellings, and spending on group housing."
“Services – Other” refer to “services consumption products, except rents, that are used in the estimation of the RPPs.”

This indicator measures the All Items Metro Area Regional Price Parity (RPP) for Walla Walla-Columbia MSA, Wenatchee-East Wenatchee MSA, Kennewick-Richland MSA, and Seattle-Tacoma-Bellevue MSA combined are offered as benchmarks. Additional information, including a breakdown by category (“Goods”, “Services - Rents”, "Services - Housing" and “Services - Other”), can be found under the “Download Data” tab.

Where are we?

During 2023, the Metro Area Regional Price Parity in:

Walla Walla WA MSA was 98.0, increasing from 97.7 in 2008.
Wenatchee-East Wenatchee WA MSA was 102.0, increasing from 96.9 in 2008.
Kennewick-Richland WA MSA was 99.0, increasing from 95.0 in 2008.
Seattle-Tacoma-Bellevue WA MSA was 113.0, increasing from 108.2 in 2008.

Data Sources

U.S. Department of Commerce: Bureau of Economic Analysis - Regional Data

Select "MARPP - Regional price parities by MSA", then select "Next Step".
On the next webpage, select "Walla Walla, WA (Metropolitan Statistical Area)", then select "All statistics in table", and press "Next Step".
Finally, select the appropriate year.

The data visualization on this webpage may not be fully accessible for persons with disabilities. However, the source data will download in a file by clicking on the "Download Data" link above. If you would like assistance downloading the file or be provided a copy of the information on this webpage, please contact us at dpjones@ewu.edu.