December 14, 2021
Today, the U.S Bureau of Economic Analysis released official statistics of real state personal consumption expenditures for the first time. Real PCE decreased 3.8 percent in 2020 for the nation. Across states, the percent change ranged from 2.2 percent in Utah to –7.0 percent in Hawaii, Maryland, and New York; the percent change was –8.9 percent in the District of Columbia. Real state PCE is a state's current-dollar PCE adjusted by the state's regional price parity and the national PCE price index.
Real Personal Income
Real state personal income increased 5.3 percent in 2020 for the nation. Across states, the percent change in real personal income ranged from 9.8 percent in Idaho to 1.6 percent in Alaska.
Regional Price Parities
Regional price parities (RPPs) measure the differences in price levels across states for a given year and are expressed as a percentage of the overall national price level.
- States with the highest RPPs were Hawaii (112.0) and New Jersey (111.2).
- States with the lowest RPPs were Mississippi (87.8) and West Virginia (88.0).
