Average Price: Milk, Fresh, Low Fat, per One-Half Gallon (1.9 Liters) in the Midwest Census Region - Urban
This dataset tracks average price: milk, fresh, low fat, per one-half gallon (1.9 liters) in the midwest census region - urban over time.
Latest Value
1.04
Year-over-Year Change
4.11%
Date Range
1/1/1980 - 7/1/1985
Summary
This economic trend measures the average price of low-fat, fresh milk in one-half gallon containers across urban areas in the Midwest U.S. census region. It provides important insights into consumer spending and regional price dynamics.
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: Milk, Fresh, Low Fat, per One-Half Gallon (1.9 Liters) in the Midwest Census Region - Urban series tracks the retail price of a common household grocery item. This data point is closely monitored by economists and policymakers to assess inflationary pressures and consumer purchasing power.
Methodology
The U.S. Bureau of Labor Statistics collects this data through consumer price surveys conducted in urban areas.
Historical Context
Milk prices are a key input for the Consumer Price Index, which is used to guide monetary policy decisions.
Key Facts
- Milk is a common household grocery item.
- The Midwest region accounts for a significant portion of U.S. milk production.
- Milk prices can be influenced by factors like supply, demand, and transportation costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of low-fat, fresh milk sold in one-half gallon containers in urban areas of the Midwest U.S. census region.
Q: Why is this trend relevant for users or analysts?
A: Milk prices are an important indicator of consumer spending and regional price dynamics, which are closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through consumer price surveys conducted in urban areas.
Q: How is this trend used in economic policy?
A: Milk prices are a key input for the Consumer Price Index, which is used to guide monetary policy decisions by the Federal Reserve.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical one-month lag.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Low Fat, per One-Half Gallon (1.9 Liters) in the Midwest Census Region - Urban (APU0200709212), retrieved from FRED.