Average Price: Beef for Stew, Boneless (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200703432 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.43
Year-over-Year Change
1.54%
Date Range
1/1/1991 - 4/1/2024
Summary
This economic trend measures the average price of beef for stew, boneless in the Midwest Census Region's urban areas. It provides insights into consumer food prices and inflation.
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: Beef for Stew, Boneless (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban tracks the retail price of this specific beef product. It is a key indicator of food price trends and a component of broader consumer price indices.
Methodology
The data is collected through surveys of retailers in the Midwest Census Region's urban areas.
Historical Context
This price trend is closely monitored by policymakers, economists, and consumers to assess food inflation and cost-of-living changes.
Key Facts
- Beef prices account for a significant portion of the typical household food budget.
- The Midwest region represents a major beef-producing and -consuming area of the U.S.
- Boneless beef for stew is a common and versatile cut used in many household meals.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of boneless beef for stew in the Midwest Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides important insights into food inflation and the cost of living for households in the Midwest region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers in the Midwest Census Region's urban areas.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and consumers closely monitor this price trend to assess food inflation and cost-of-living changes.
Q: Are there update delays or limitations?
A: There may be a lag of several weeks between the reference period and the data release.
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Citation
U.S. Federal Reserve, Average Price: Beef for Stew, Boneless (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703432), retrieved from FRED.