Average Price: Milk, Fresh, Low-Fat, Reduced Fat, Skim (Cost per Gallon/3.8 Liters) in the Northeast Census Region - Urban
APU0100FJ1101 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.81
Year-over-Year Change
1.19%
Date Range
4/1/2018 - 9/1/2024
Summary
This economic trend tracks the average retail price of low-fat, reduced-fat, and skim milk in the Northeast Census Region's urban areas. It provides important insights into consumer prices and regional cost-of-living 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: Milk, Fresh, Low-Fat, Reduced Fat, Skim (Cost per Gallon/3.8 Liters) in the Northeast Census Region - Urban series measures the average price consumers pay for these types of milk in urban areas of the Northeast U.S. This data is a key economic indicator used to analyze regional price levels and household expenditures.
Methodology
The U.S. Bureau of Labor Statistics collects this price data through consumer surveys and store visits.
Historical Context
Policymakers and economists utilize this milk price trend to assess consumer purchasing power and monitor regional inflation.
Key Facts
- Milk is a dietary staple for many U.S. households.
- The Northeast has a higher cost of living than other regions.
- Milk prices can impact overall inflation and consumer purchasing power.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of low-fat, reduced-fat, and skim milk in urban areas of the Northeast Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This milk price data is an important indicator of consumer prices and regional cost-of-living dynamics, which are closely monitored by policymakers and economists.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this price data through consumer surveys and store visits.
Q: How is this trend used in economic policy?
A: Policymakers and economists utilize this milk price trend to assess consumer purchasing power and monitor regional inflation.
Q: Are there update delays or limitations?
A: This data is published monthly with a short lag, providing timely insights into milk prices in the Northeast region.
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Citation
U.S. Bureau of Labor Statistics, Average Price: Milk, Fresh, Low-Fat, Reduced Fat, Skim (Cost per Gallon/3.8 Liters) in the Northeast Census Region - Urban (APU0100FJ1101), retrieved from FRED.