Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban
This dataset tracks average price: steak, round, graded and ungraded, excluding usda prime and choice (cost per pound/453.6 grams) in the northeast census region - urban over time.
Latest Value
3.29
Year-over-Year Change
-3.46%
Date Range
2/1/1994 - 7/1/1994
Summary
This economic trend measures the average price of steak (round, graded and ungraded, excluding USDA Prime and Choice) in the Northeast Census Region's urban areas. It provides insight into consumer purchasing power and regional price variations for this common meat product.
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, Round, Graded and Ungraded, Excluding USDA Prime and Choice trend tracks the per-pound cost of this type of steak in Northeastern urban markets. It is a key indicator for monitoring food inflation and consumer expenditure patterns in the region.
Methodology
The data is collected through surveys of retailers and food service providers in the Northeast Census Region.
Historical Context
This trend is closely watched by economists, policymakers, and market analysts to assess regional cost-of-living dynamics and the state of consumer demand.
Key Facts
- Steak is a common household meat purchase.
- Prices can vary significantly by region and grade.
- The Northeast region has a large urban population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of steak (round, graded and ungraded, excluding USDA Prime and Choice) in urban areas of the Northeast Census Region.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights 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 surveys of retailers and food service providers in the Northeast Census Region.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess regional cost-of-living and consumer demand patterns, which can inform decisions on monetary policy, social programs, and other economic interventions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule, but may be subject to revisions due to changes in survey methods or respondent reporting.
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Citation
U.S. Federal Reserve, Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban (APU0100703512), retrieved from FRED.