Average Price: Steak, Rib Eye, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703425 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.07
Year-over-Year Change
6.09%
Date Range
1/1/1991 - 10/1/2001
Summary
This trend measures the average price per pound of rib eye steak, a key indicator of consumer meat prices in the U.S.
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: Steak, Rib Eye, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in U.S. City Average tracks the monthly price of this popular beef cut across major U.S. urban areas. It provides insight into consumer purchasing power and trends in the meat and livestock sectors.
Methodology
The data is collected through surveys of retail establishments across the country.
Historical Context
This metric is widely used by economists, policymakers, and market analysts to assess consumer spending, inflation, and conditions in the beef industry.
Key Facts
- Rib eye steak is a premium beef cut popular with consumers.
- Prices can fluctuate based on cattle supply, feed costs, and consumer demand.
- The 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 price per pound of rib eye steak, a popular and high-quality beef cut, across major U.S. urban areas.
Q: Why is this trend relevant for users or analysts?
A: Rib eye steak prices provide insight into consumer spending on meat, inflationary pressures, and conditions in the beef industry - key factors monitored by economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments across the United States by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Rib eye steak prices are used by economists, policymakers, and market analysts to assess consumer spending, inflation, and conditions in the beef industry, which can inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is reported monthly by the U.S. Bureau of Labor Statistics, with a typical 1-2 month delay between the reference period and public release.
Similar APU Trends
Average Price: Gasoline, Leaded Premium (Cost per Gallon/3.8 Liters) in Seattle-Tacoma-Bellevue WA (CBSA)
APUS49D74713
Average Price: Sugar, White, All Sizes (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000715211
PADD III (Gulf Coast District) Regular All Formulations Gas Price
GASREGGCA
Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in Cincinnati-Hamilton, OH-KY-IN (CBSA)
APUA21374712
Average Price: Automotive Diesel Fuel (Cost per Gallon/3.785 Liters) in Size Class D
APUD00074717
Average Price: Tomatoes, Canned, Any Type, All Sizes (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000714232
Citation
U.S. Bureau of Labor Statistics, Average Price: Steak, Rib Eye, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703425), retrieved from FRED.