Average Price: Steak, Sirloin, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average
APU0000703611 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.83
Year-over-Year Change
-2.40%
Date Range
1/1/1980 - 4/1/1994
Summary
This economic trend measures the average price of steak, sirloin, USDA Choice, bone-in per pound in the U.S. city average. It provides insight into food price inflation and consumer purchasing power.
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, Sirloin, USDA Choice, Bone-In trend tracks the cost of a specific meat product as part of the U.S. Bureau of Labor Statistics' Consumer Price Index (CPI) data. It is a key indicator of food price dynamics and household spending.
Methodology
The data is collected through surveys of retail establishments and calculated as a national average price per pound.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess inflationary pressures and consumer behavior.
Key Facts
- Steak is a major protein source in the U.S. diet.
- USDA Choice is a common grade of beef sold at retail.
- Price per pound allows for easy comparison across time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of steak, sirloin, USDA Choice, bone-in in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into food price inflation and consumer purchasing power, which are crucial factors for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and calculated as a national average price per pound.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to assess inflationary pressures and consumer behavior, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of several weeks.
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Citation
U.S. Bureau of Labor Statistics, Average Price: Steak, Sirloin, USDA Choice, Bone-In (APU0000703611), retrieved from FRED.