Average Price: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average
This dataset tracks average price: short ribs, any primal source, bone-in (cost per pound/453.6 grams) in u.s. city average over time.
Latest Value
4.67
Year-over-Year Change
9.65%
Date Range
1/1/1991 - 5/1/2011
Summary
This economic trend measures the average price of short ribs, a popular cut of beef, in the U.S. city average. It provides insights into consumer meat prices and food 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: Short Ribs, Any Primal Source, Bone-In trend tracks the cost per pound of this specific beef product across U.S. urban areas. It is a key indicator of meat affordability and consumer purchasing power.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by economists, policymakers, and the meat industry to understand consumer trends and broader inflationary pressures.
Key Facts
- Short ribs are a popular cut of beef from the plate or chuck region.
- Prices for short ribs can fluctuate based on supply, demand, and broader meat market conditions.
- The U.S. city average price is calculated across urban areas to represent national consumer costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of short ribs, a common cut of beef, across U.S. urban areas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer meat prices and broader food inflation, which are closely watched by economists, policymakers, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand consumer trends and inflationary pressures in the meat and food sectors.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Bureau of Labor Statistics, Average Price: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703431), retrieved from FRED.