Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in U.S. City Average
This dataset tracks average price: milk, fresh, low fat (cost per gallon/3.8 liters) in u.s. city average over time.
Latest Value
2.50
Year-over-Year Change
-6.66%
Date Range
7/1/1995 - 10/1/2002
Summary
This economic trend measures the average price of low-fat fresh milk in the U.S. city average. It provides valuable insights into consumer spending patterns and the state of the dairy 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
The Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in U.S. City Average series tracks the retail price of one gallon of low-fat fresh milk across major U.S. urban areas. This data point is a key indicator of food inflation and consumer purchasing power.
Methodology
The U.S. Bureau of Labor Statistics collects this price data through surveys of retail establishments.
Historical Context
Policymakers and market analysts use this trend to assess the affordability of a staple consumer good and its impact on household budgets.
Key Facts
- Milk is a dietary staple for many American households.
- Prices for low-fat milk can impact consumer food budgets.
- This data series dates back to the 1970s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of one gallon of low-fat fresh milk in the U.S. city average.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending on a common household item and can indicate broader food price inflation trends.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this price data through surveys of retail establishments.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the affordability of a staple consumer good and its impact on household budgets.
Q: Are there update delays or limitations?
A: This data is published monthly with no major update delays.
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Citation
U.S. Bureau of Labor Statistics, Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in U.S. City Average (APU0000709213), retrieved from FRED.