Average Price: Steak, Sirloin, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in U.S. City Average
This dataset tracks average price: steak, sirloin, graded and ungraded, excluding usda prime and choice (cost per pound/453.6 grams) in u.s. city average over time.
Latest Value
8.65
Year-over-Year Change
51.30%
Date Range
1/1/1991 - 3/1/2018
Summary
This trend measures the average price of sirloin steak in the U.S., excluding USDA Prime and Choice grades. It provides insight into broader meat price trends and consumer purchasing patterns.
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, Graded and Ungraded, Excluding USDA Prime and Choice' series tracks the cost per pound of sirloin steak in the U.S. city average. It is a key economic indicator for the meat and livestock industry, as well as consumer spending on premium protein sources.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is widely used by economists, policymakers, and market analysts to assess consumer demand and inflationary pressures in the meat sector.
Key Facts
- Sirloin steak is a premium beef cut known for its tenderness and flavor.
- Prices can fluctuate based on supply, demand, and production costs.
- This metric excludes the highest-quality USDA Prime and Choice grades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price of sirloin steak in the U.S., excluding the highest USDA quality grades of Prime and Choice.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into broader meat price trends and consumer purchasing patterns, which is valuable for economists, policymakers, and market analysts.
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 metric is widely used to assess consumer demand and inflationary pressures in the meat sector, informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month delay, and may not capture all regional or specialty market variations.
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Citation
U.S. Federal Reserve, Average Price: Steak, Sirloin, Graded and Ungraded, Excluding USDA Prime and Choice (APU0000703612), retrieved from FRED.