Average Price: Steak, Porterhouse, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703423 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.17
Year-over-Year Change
3.24%
Date Range
1/1/1980 - 12/1/1986
Summary
This economic trend measures the average price of bone-in porterhouse steak, a high-quality cut of beef, 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 porterhouse steak price trend tracks the cost per pound of this premium beef item in the U.S. urban market. It is a key indicator of consumer purchasing power and food-related inflation pressures.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess household spending and the state of the broader economy.
Key Facts
- Porterhouse steak is a premium cut from the short loin of beef.
- Prices are tracked in the U.S. city average, covering major urban areas.
- Data is collected monthly by the Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of bone-in porterhouse steak, a high-quality beef cut, in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: The porterhouse steak price is a key indicator of consumer food costs and broader inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of retail establishments 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 household spending patterns and the overall state of the economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag time, providing timely insights into food price trends.
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Citation
U.S. Federal Reserve, Average Price: Steak, Porterhouse, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703423), retrieved from FRED.