Average Price: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban
APU0100703411 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.33
Year-over-Year Change
30.85%
Date Range
1/1/1980 - 11/1/1995
Summary
This economic trend measures the average price of rib roast, USDA Choice, bone-in per pound in the Northeast Census Region's urban areas. It provides insight into consumer prices and regional food cost dynamics.
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: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban trend reflects the typical price consumers pay for this premium beef cut in major Northeastern cities. It is a key indicator for analyzing regional food price inflation and consumer purchasing power.
Methodology
The data is collected through consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess consumer spending patterns and regional cost-of-living dynamics.
Key Facts
- Rib roast is a premium beef cut popular for holiday meals.
- The Northeast region has historically higher food prices than the national average.
- Bone-in rib roast prices can fluctuate based on cattle supply and consumer demand.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price consumers pay per pound for USDA Choice bone-in rib roast in the Northeast Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into regional food price dynamics and consumer purchasing power, which are key factors for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess regional cost-of-living pressures and inform decisions related to consumer spending, inflation, and regional economic development.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be lags of several weeks between the reference period and the release date.
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Citation
U.S. Federal Reserve, Average Price: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban (APU0100703411), retrieved from FRED.