Average Price: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703411 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.21
Year-over-Year Change
2.28%
Date Range
1/1/1980 - 12/1/1997
Summary
This economic trend measures the average retail price of rib roast, a popular beef cut, in the U.S. city average. It provides insight into consumer food prices and inflation.
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: Rib Roast, USDA Choice, Bone-In data series tracks the monthly average price per pound of this premium beef product in the U.S. market. It is a key indicator for understanding trends in consumer meat prices and overall food inflation.
Methodology
The data is collected through surveys of retail food stores by the U.S. Bureau of Labor Statistics.
Historical Context
This price series is used by economists, policymakers, and market analysts to monitor household spending and inflationary pressures.
Key Facts
- Rib roast is a premium beef cut popular for holiday meals.
- Prices are tracked in the U.S. city average, not individual markets.
- Data is reported monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per pound of rib roast, a boneless premium beef cut, in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: The rib roast price is a key indicator of consumer food inflation and household spending patterns on premium meat products.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of retail food stores by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this price series to monitor consumer inflation and household purchasing power.
Q: Are there update delays or limitations?
A: The data is reported monthly with a short lag, providing timely insight into consumer meat price trends.
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Citation
U.S. Federal Reserve, Average Price: Rib Roast, USDA Choice, Bone-In (APU0000703411), retrieved from FRED.