Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703512 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.39
Year-over-Year Change
39.07%
Date Range
1/1/1991 - 6/1/2025
Summary
This economic trend measures the average price of steak, round, graded and ungraded, excluding USDA Prime and Choice, in the U.S. city average. It provides insights into consumer prices and trends in the beef industry.
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
This series tracks the cost per pound/453.6 grams of steak, round, graded and ungraded, excluding USDA Prime and Choice, in the U.S. city average. It is an important indicator of consumer purchasing power and market conditions for beef products.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and industry analysts to monitor inflation, consumer behavior, and the overall state of the beef market.
Key Facts
- The average price of steak, round, graded and ungraded, excluding USDA Prime and Choice, was $7.22 per pound in 2022.
- Steak prices have increased by 20% over the past 5 years due to supply chain disruptions and rising production costs.
- Beef is a significant component of the Consumer Price Index, accounting for approximately 2% of the overall index.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound/453.6 grams of steak, round, graded and ungraded, excluding USDA Prime and Choice, in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer prices and market conditions for beef products, which is important for understanding inflation, consumer behavior, and the overall state of the beef industry.
Q: How is this data collected or calculated?
A: The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to monitor inflation, consumer behavior, and the overall state of the beef market, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Bureau of Labor Statistics, with a typical release delay of approximately two weeks.
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Citation
U.S. Federal Reserve, Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000703512), retrieved from FRED.