Average Price: Steak, Sirloin, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban
APU0100703612 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.80
Year-over-Year Change
3.83%
Date Range
11/1/1994 - 11/1/1995
Summary
This economic trend measures the average price of steak, sirloin, in the Northeast Census Region's urban areas, excluding USDA Prime and Choice grades. It provides insight into consumer purchasing patterns and price dynamics for this key food commodity.
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, Sirloin, Graded and Ungraded, Excluding USDA Prime and Choice data series tracks the cost per pound of this meat product in the Northeast region's urban markets. It is a valuable indicator of inflationary pressures and consumer demand for this important protein source.
Methodology
The data is collected through surveys of food retailers in the Northeast region.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to assess household spending, food inflation, and regional market conditions.
Key Facts
- Steak and sirloin are a significant portion of consumer food budgets.
- Prices can vary widely by region and grade quality.
- The Northeast region accounts for a large share of U.S. beef consumption.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price of steak, sirloin, in the Northeast Census Region's urban areas, excluding USDA Prime and Choice grades.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer purchasing patterns and price dynamics for this key food commodity, which is closely monitored by economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food retailers in the Northeast region.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess household spending, food inflation, and regional market conditions.
Q: Are there update delays or limitations?
A: The data is published regularly, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Price: Steak, Sirloin, Graded and Ungraded, Excluding USDA Prime and Choice (APU0100703612), retrieved from FRED.