Average Price: Ground Beef, 100% Beef (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703112 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.12
Year-over-Year Change
11.84%
Date Range
1/1/1984 - 6/1/2025
Summary
This economic trend measures the average price per pound of ground beef in the U.S. city average. It provides important insights into consumer prices and household spending patterns.
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
The Average Price: Ground Beef, 100% Beef (Cost per Pound/453.6 Grams) in U.S. City Average data series tracks the retail price of this common household grocery item. This metric is widely used by economists and policymakers to monitor inflation and consumer purchasing power.
Methodology
The data is collected through consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in ground beef prices offer valuable context for understanding broader consumer price movements and the state of the U.S. economy.
Key Facts
- Ground beef is a dietary staple for many American households.
- Prices for this commodity can be influenced by factors like cattle production, processing costs, and supply chain dynamics.
- Monitoring ground beef prices provides insight into the overall cost of living in the United States.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average retail price per pound of ground beef in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: Trends in ground beef prices offer valuable insights into consumer spending patterns, household budgets, and the overall rate of inflation in the United States.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor ground beef prices as an indicator of broader consumer price movements and the state of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, Average Price: Ground Beef, 100% Beef (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703112), retrieved from FRED.