The Bureau of Economic Analysis (BEA) does a periodic market basket study – estimating how much a standard basket of goods costs in different parts of the country.
The national average is indexed to $100 … and called the Relative Price Parity index.
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Based on the most recent study, prices are the lowest in Mississippi where the $100 shopping basket can be purchased for $86.80.
Said differently, a dollar is worth 15% than the national average in Mississippi.
What’s the most costly state? Where does your state rank?
