Average Price: Round Roast, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in U.S. City Average
This dataset tracks average price: round roast, graded and ungraded, excluding usda prime and choice (cost per pound/453.6 grams) in u.s. city average over time.
Latest Value
5.18
Year-over-Year Change
20.36%
Date Range
1/1/1991 - 7/1/2014
Summary
This economic trend measures the average price of round roast, both graded and ungraded, excluding USDA Prime and Choice, in the U.S. city average. It provides important insights into consumer meat prices and can inform policy decisions.
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 round roast price trend represents the typical cost per pound for this common beef cut across U.S. urban areas. It excludes the higher-end Prime and Choice grades, capturing prices for more affordable roasts typically purchased by households.
Methodology
The data is collected through regular consumer price surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess trends in retail meat affordability and consumer purchasing power.
Key Facts
- Prices are reported in cost per pound (453.6 grams).
- Data excludes premium USDA Prime and Choice beef grades.
- Trend helps monitor household purchasing power for meat.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price of round roast, both graded and ungraded, excluding the higher-end USDA Prime and Choice grades, in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer meat prices and purchasing power, which can inform policy decisions related to food affordability and household budgets.
Q: How is this data collected or calculated?
A: The data is collected through regular consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess trends in retail meat affordability and monitor consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is subject to the regular publication schedule and potential survey limitations of the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Average Price: Round Roast, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703312), retrieved from FRED.