Average Price: Chuck Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
This dataset tracks average price: chuck roast, usda choice, bone-in (cost per pound/453.6 grams) in the midwest census region - urban over time.
Latest Value
2.14
Year-over-Year Change
2.34%
Date Range
1/1/1980 - 1/1/1995
Summary
This economic trend measures the average price of chuck roast, a popular beef cut, in the Midwest Census Region's urban areas. It provides insights into retail food prices and consumer purchasing patterns.
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: Chuck Roast, USDA Choice, Bone-In trend tracks the per-pound cost of this common beef item in the Midwest's urban markets. It is a key indicator of regional food inflation and can inform policymakers and consumers about changes in the cost of living.
Methodology
The data is collected through surveys of food retailers in the Midwest Census Region.
Historical Context
This price trend is used by economists, policymakers, and consumers to monitor food affordability and the state of the regional economy.
Key Facts
- Chuck roast is a popular, affordable beef cut.
- The Midwest region accounts for a significant portion of U.S. beef production.
- Urban consumers typically have higher food costs than rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price of chuck roast, a common beef cut, in the urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional food inflation and consumer purchasing power, which are important for policymakers and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food retailers in the Midwest Census Region.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and consumers to monitor food affordability and the state of the regional economy.
Q: Are there update delays or limitations?
A: There may be some delay in data reporting, and the trend only covers the Midwest Census Region's urban areas.
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Citation
U.S. Federal Reserve, Average Price: Chuck Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703211), retrieved from FRED.