Average Price: Milk, Fresh, Whole, Fortified (Cost per Gallon/3.8 Liters) in the Northeast Census Region - Urban
This dataset tracks average price: milk, fresh, whole, fortified (cost per gallon/3.8 liters) in the northeast census region - urban over time.
Latest Value
4.42
Year-over-Year Change
1.47%
Date Range
7/1/1995 - 10/1/2024
Summary
This economic trend measures the average price of whole, fortified milk in the Northeast Census Region's urban areas. It provides insight into consumer price dynamics and household purchasing power in a key geographic region.
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, Whole, Fortified (Cost per Gallon/3.8 Liters) in the Northeast Census Region - Urban trend tracks the retail price of a standard gallon of whole milk in Northeastern urban markets. This data point is a component of the Consumer Price Index and offers economists and policymakers a localized view of dairy product affordability.
Methodology
The U.S. Bureau of Labor Statistics collects this data through a monthly survey of retail establishments.
Historical Context
Milk prices are monitored closely by economists and policymakers to assess household budgets and the state of the dairy industry.
Key Facts
- Milk is a staple food and major household expense.
- The Northeast region accounts for 20% of the U.S. population.
- Milk prices have risen 25% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average retail price of a gallon of whole, fortified milk in urban areas of the Northeast Census Region.
Q: Why is this trend relevant for users or analysts?
A: Milk prices are a key indicator of household purchasing power and consumer price dynamics in the Northeast, a major U.S. economic center.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics surveys retail establishments monthly to obtain this price data.
Q: How is this trend used in economic policy?
A: Milk prices are closely monitored by economists and policymakers to assess the state of the dairy industry and household budgets.
Q: Are there update delays or limitations?
A: This data is published monthly with a short lag, providing timely insight into regional consumer price movements.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Whole, Fortified (Cost per Gallon/3.8 Liters) in the Northeast Census Region - Urban (APU0100709112), retrieved from FRED.