Average Price: Shortening, Vegetable Oil Blends (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban
APU0100716121 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.01
Year-over-Year Change
-3.72%
Date Range
1/1/1980 - 12/1/1997
Summary
This economic trend measures the average price of shortening and vegetable oil blends per pound in the Northeast Census Region's urban areas. It provides insights into consumer prices and supply chain dynamics in the food and cooking oils market.
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 the Northeast Census Region - Urban is a key indicator tracked by economists and policymakers to understand consumer purchasing patterns and inflationary pressures in the food and cooking oils sector.
Methodology
The data is collected through surveys of retail establishments in the Northeast region's urban areas.
Historical Context
This trend is used to inform monetary and fiscal policies that aim to stabilize consumer prices and support economic growth.
Key Facts
- The Northeast region accounts for over 20% of the U.S. population.
- Cooking oils and fats make up around 2.5% of the average American household's food budget.
- Prices for vegetable oil blends have risen over 30% in the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of shortening and vegetable oil blends in the urban areas of the Northeast Census Region.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer purchasing power and inflationary pressures in the food and cooking oils market, which is important for economic policy and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in the Northeast region's urban areas.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to inform monetary and fiscal policies that aim to stabilize consumer prices and support economic growth.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may not fully capture all regional price variations.
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Citation
U.S. Federal Reserve, Average Price: Shortening, Vegetable Oil Blends (Cost per Pound/453.6 Grams) in the Northeast Census Region - Urban (APU0100716121), retrieved from FRED.