Average Price: Chicken Legs, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200706212 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.02
Year-over-Year Change
21.95%
Date Range
11/1/1980 - 5/1/2022
Summary
This economic trend measures the average price of bone-in chicken legs in the Midwest Census Region's urban areas. It provides insights into consumer prices and food inflation for a key poultry product.
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: Chicken Legs, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban tracks the retail price of this common household protein. It is a component of the Consumer Price Index and offers visibility into regional food costs and purchasing power.
Methodology
The data is collected through surveys of urban consumers in the Midwest region.
Historical Context
This price trend is closely monitored by economists, policymakers, and market analysts to assess household spending, inflationary pressures, and consumer behavior.
Key Facts
- Chicken is a dietary staple for many U.S. households.
- The Midwest region represents a significant share of national poultry consumption.
- Bone-in chicken legs are a cost-effective protein option.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of bone-in chicken legs in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This price trend offers insights into consumer spending, regional food inflation, and household purchasing power for a common protein item.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys in urban Midwest markets.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this price trend to monitor food inflation, assess household budgets, and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may not capture all retail outlets or product variations.
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Citation
U.S. Federal Reserve, Average Price: Chicken Legs, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200706212), retrieved from FRED.