Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Urban
APU0200709213 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.40
Year-over-Year Change
-9.46%
Date Range
7/1/1995 - 3/1/2003
Summary
This economic trend measures the average price of low-fat fresh milk per gallon in the Midwest Census Region's urban areas. It provides insight into consumer prices and purchasing power for a key household commodity.
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 milk price series tracks the retail cost of low-fat fresh milk, a staple household product. Economists and policymakers monitor this data to assess consumer price trends and the impact on household budgets.
Methodology
The U.S. Bureau of Labor Statistics collects this data through consumer price surveys in urban Midwest markets.
Historical Context
Milk prices are a key input for measuring overall consumer inflation and cost-of-living changes.
Key Facts
- Milk is a common household staple and indicator of broader consumer inflation.
- The Midwest region represents a significant portion of the U.S. population and economy.
- Urban consumers typically have different spending patterns than rural households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of low-fat fresh milk per gallon in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: Milk prices are an important indicator of consumer spending, household budgets, and broader inflationary pressures in the economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through consumer price surveys in Midwest urban markets.
Q: How is this trend used in economic policy?
A: Milk prices are a key input for measuring overall consumer inflation, which informs monetary policy decisions by the Federal Reserve.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month lag, and may not capture all regional price variations.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Urban (APU0200709213), retrieved from FRED.