Average Price: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703422 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.38
Year-over-Year Change
0.35%
Date Range
1/1/1980 - 4/1/2002
Summary
This economic trend measures the average price of T-bone steak in the U.S. city average, providing insight into consumer food prices and market conditions.
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 T-bone steak price index represents the average cost per pound of this specific cut of beef in the U.S. urban areas. It is a key indicator for economists and policymakers tracking consumer spending and food inflation.
Methodology
The data is collected through surveys of retail food outlets and calculated as a monthly average price.
Historical Context
This trend is used to analyze household spending patterns and the state of the beef industry.
Key Facts
- T-bone steak is a premium cut of beef with both tenderloin and strip steak.
- Prices are tracked in urban areas across the United States.
- Data is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of T-bone steak, a popular cut of beef, in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: The T-bone steak price is a key indicator of consumer food costs and can provide insights into inflation, household spending, and the state of the beef industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail food outlets and calculated as a monthly average price by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze consumer spending patterns, food price inflation, and the overall health of the beef industry.
Q: Are there update delays or limitations?
A: The T-bone steak price data is released monthly with no significant update delays, providing timely information to analysts.
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Citation
U.S. Federal Reserve, Average Price: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703422), retrieved from FRED.