Average Price: Steak, Porterhouse, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200703423 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.76
Year-over-Year Change
9.17%
Date Range
1/1/1980 - 10/1/1987
Summary
This economic trend measures the average price of porterhouse steak, a high-quality cut of beef, in the Midwest region of the United States. It provides insight into consumer price dynamics for a key household grocery item.
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, Porterhouse, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban tracks the monthly average retail price for this specific beef product. It is a key indicator of meat price inflation and consumer purchasing power.
Methodology
The data is collected through surveys of retail establishments in urban areas of the Midwest census region.
Historical Context
This price trend is closely monitored by policymakers, economists, and market analysts to assess inflationary pressures and household spending patterns.
Key Facts
- Porterhouse steak is a premium cut from the short loin section of a beef carcass.
- The Midwest region includes 12 states, including Illinois, Indiana, Michigan, and Ohio.
- Steak prices can be an important indicator of overall food price inflation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of porterhouse steak, a high-quality beef cut, in urban areas of the Midwest region of the United States.
Q: Why is this trend relevant for users or analysts?
A: Steak prices are closely watched as an indicator of consumer price inflation and household spending patterns on a key grocery item.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in urban areas of the Midwest census region.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this price trend to assess inflationary pressures and consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is published monthly with a brief delay, and only covers urban areas within the Midwest census region.
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Citation
U.S. Federal Reserve, Average Price: Steak, Porterhouse, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703423), retrieved from FRED.