Average Price: Lamb and Mutton, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average
This dataset tracks average price: lamb and mutton, bone-in (cost per pound/453.6 grams) in u.s. city average over time.
Latest Value
3.31
Year-over-Year Change
-9.65%
Date Range
1/1/1991 - 1/1/1994
Summary
This trend measures the average retail price of lamb and mutton (bone-in) per pound in the U.S. It is an important economic indicator for the livestock and food production industries.
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: Lamb and Mutton, Bone-In metric tracks the typical cost consumers pay for this agricultural commodity in the United States. It is a key statistic used by economists, policymakers, and industry analysts to monitor price trends and consumption patterns in the meat market.
Methodology
The data is collected through surveys of retail stores and food service providers across the country.
Historical Context
Policymakers and market participants use this price index to assess inflationary pressures and supply-demand dynamics in the livestock sector.
Key Facts
- Lamb and mutton account for about 1% of total U.S. meat consumption.
- Prices tend to peak in the spring and early summer months.
- Price changes can impact food service, grocery, and export demand.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average retail price consumers pay for lamb and mutton (bone-in) per pound in the United States.
Q: Why is this trend relevant for users or analysts?
A: This price index is an important indicator for monitoring inflationary pressures, supply-demand dynamics, and consumption patterns in the livestock and meat production industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail stores and food service providers across the country.
Q: How is this trend used in economic policy?
A: Policymakers and market participants use this price index to assess inflationary pressures and supply-demand dynamics in the livestock sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Average Price: Lamb and Mutton, Bone-In (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000705142), retrieved from FRED.