Average Price: Shortening, Vegetable Oil Blends (Cost per Pound/453.6 Grams) in U.S. City Average
This dataset tracks average price: shortening, vegetable oil blends (cost per pound/453.6 grams) in u.s. city average over time.
Latest Value
1.28
Year-over-Year Change
12.61%
Date Range
1/1/1980 - 4/1/2005
Summary
This economic trend measures the average price of shortening and vegetable oil blends in the U.S. city average. It is an important indicator for monitoring consumer prices and food costs.
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: Shortening, Vegetable Oil Blends (Cost per Pound/453.6 Grams) in U.S. City Average tracks the retail price of these household goods. It is used by economists and policymakers to analyze trends in consumer spending and the broader state of the economy.
Methodology
The data is collected through surveys of retail establishments.
Historical Context
This price index is a key input for the Consumer Price Index (CPI), a leading measure of inflation.
Key Facts
- Prices are reported in U.S. dollars per pound.
- Data is collected monthly across major U.S. cities.
- This index has been tracked since the 1980s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of shortening and vegetable oil blends sold in the U.S. It tracks changes in the cost of these common household goods.
Q: Why is this trend relevant for users or analysts?
A: This price index is an important indicator of consumer spending and inflationary pressures in the economy. It provides insights into the costs faced by households for basic food and cooking items.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of retail establishments across the United States.
Q: How is this trend used in economic policy?
A: This price index is a key input for the broader Consumer Price Index (CPI), which is closely monitored by the Federal Reserve and other policymakers for guiding monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a short lag, providing timely insights into price trends. However, it may not capture all regional variations in retail prices.
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Citation
U.S. Federal Reserve, Average Price: Shortening, Vegetable Oil Blends (Cost per Pound/453.6 Grams) in U.S. City Average (APU0000716121), retrieved from FRED.