Average Price: Steak, Sirloin, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
This dataset tracks average price: steak, sirloin, usda choice, boneless (cost per pound/453.6 grams) in the midwest census region - urban over time.
Latest Value
12.31
Year-over-Year Change
12.87%
Date Range
1/1/1989 - 6/1/2025
Summary
This economic trend measures the average price of steak, sirloin, USDA Choice, boneless in the Midwest Census Region's urban areas. It is a key indicator of consumer food prices and regional 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: Steak, Sirloin, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban represents the average price paid by consumers for this specific cut of beef in the Midwest's urban areas. It is used to assess changes in regional food costs and consumer purchasing power.
Methodology
The data is collected through surveys of retail establishments and reflects the actual prices paid by consumers.
Historical Context
This trend is used by policymakers, economists, and market analysts to understand regional variations in consumer prices and inflation.
Key Facts
- The Midwest is the largest beef-producing region in the U.S.
- Sirloin steak is one of the most popular beef cuts among consumers.
- USDA Choice is a common grade of beef indicating moderate marbling.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price paid by consumers for steak, sirloin, USDA Choice, boneless in the Midwest Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of regional food costs and consumer purchasing power, which is crucial for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and reflects the actual prices paid by consumers.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to understand regional variations in consumer prices and inflation.
Q: Are there update delays or limitations?
A: The data is released monthly with minimal delay, providing timely insights into regional price trends.
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Citation
U.S. Federal Reserve, Average Price: Steak, Sirloin, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703613), retrieved from FRED.