Average Price: American Processed Cheese (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
This dataset tracks average price: american processed cheese (cost per pound/453.6 grams) in the midwest census region - urban over time.
Latest Value
4.17
Year-over-Year Change
12.83%
Date Range
1/1/1984 - 9/1/2022
Summary
This economic trend measures the average price of American processed cheese in the Midwest Census Region's urban areas. It provides valuable insights into consumer food prices and the cost of living in this region.
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: American Processed Cheese (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban series tracks the average retail price of this common dairy product. This metric is widely used by economists and policymakers to monitor changes in consumer food prices and assess the overall cost of living in the Midwest.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This price trend is closely watched by government agencies, businesses, and consumers to understand regional market conditions and the potential impact on household budgets.
Key Facts
- The Midwest Census Region includes 12 states in the central United States.
- Processed cheese is a widely consumed dairy product in the U.S.
- Tracking regional food prices is crucial for understanding cost of living trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of American processed cheese in the urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides valuable insights into consumer food costs and the overall cost of living in the Midwest, which is crucial information for economists, policymakers, and households.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies closely monitor this trend to understand regional market conditions and the potential impact on household budgets, which informs economic decision-making.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be occasional delays or revisions due to the survey-based collection method.
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Citation
U.S. Federal Reserve, Average Price: American Processed Cheese (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200710211), retrieved from FRED.