Average Price: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
This dataset tracks average price: short ribs, any primal source, bone-in (cost per pound/453.6 grams) in the midwest census region - urban over time.
Latest Value
2.60
Year-over-Year Change
0.00%
Date Range
1/1/1991 - 4/1/1991
Summary
This economic trend measures the average price of short ribs from any primal source with bone-in, per pound, in the Midwest Census Region's urban areas. It provides insights into the costs faced by consumers and the state of the meat supply chain.
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: Short Ribs, Any Primal Source, Bone-In trend tracks the retail price of this specific cut of beef in the Midwest region. It is a key indicator for analysts and policymakers to understand consumer spending, inflation, and the dynamics of the livestock industry.
Methodology
The data is collected through surveys of retailers by the U.S. Bureau of Labor Statistics.
Historical Context
This price trend is relevant for monitoring consumer demand, producer costs, and overall economic conditions.
Key Facts
- Prices are reported in cost per pound/453.6 grams.
- The Midwest region includes 12 states in the central U.S.
- Bone-in short ribs are a popular cut for stewing and braising.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of short ribs from any primal source with the bone still in, per pound, in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides insights into consumer spending, inflation, and the state of the livestock supply chain in the Midwest region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor consumer demand, producer costs, and overall economic conditions in the Midwest.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Price: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703431), retrieved from FRED.