Average Price: Turkey, Frozen, Whole (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200706311 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.35
Year-over-Year Change
-5.01%
Date Range
1/1/1980 - 12/1/2017
Summary
This economic trend measures the average price per pound of frozen, whole turkeys in the Midwest Census Region's urban areas. It provides important insights into consumer prices and food costs for a popular holiday 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: Turkey, Frozen, Whole (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban tracks the typical price that urban consumers in the Midwest pay for frozen, whole turkeys. This data is used by economists and policymakers to understand consumer purchasing patterns and inflationary pressures.
Methodology
The data is collected through surveys of retailers in the Midwest Census Region.
Historical Context
This price trend is relevant for monitoring food costs and consumer spending, particularly around major holidays when turkey consumption peaks.
Key Facts
- Turkeys are a popular food item, especially around Thanksgiving.
- The Midwest region accounts for a significant portion of U.S. turkey production.
- Frozen turkey prices can impact consumer budgets and holiday planning.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound that urban consumers in the Midwest Census Region pay for frozen, whole turkeys.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into consumer prices and food costs for a popular holiday item, which is useful for economists and policymakers analyzing inflationary pressures and consumer spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers in the Midwest Census Region.
Q: How is this trend used in economic policy?
A: This price trend is relevant for monitoring food costs and consumer spending, particularly around major holidays when turkey consumption peaks, which is important for policymakers and market analysts.
Q: Are there update delays or limitations?
A: The data is published regularly, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Price: Turkey, Frozen, Whole (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200706311), retrieved from FRED.