Average Price: Beans, Dried, Any Type, All Sizes (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200714233 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.25
Year-over-Year Change
-9.32%
Date Range
11/1/1995 - 9/1/2017
Summary
This economic trend measures the average price of dried beans per pound in the Midwest Census Region's urban areas. It provides insights into food costs and consumer behavior in a key U.S. 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: Beans, Dried, Any Type, All Sizes (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban data series tracks the average retail price of dried beans sold in urban areas of the Midwest. It is a useful indicator of food costs and consumer purchasing patterns in this geographic market.
Methodology
The data is collected through surveys of retail establishments in the Midwest region.
Historical Context
This price trend is relevant for analyzing consumer demand, inflation, and food affordability.
Key Facts
- Dried beans are a staple food in many Midwest households.
- Prices for dried beans can fluctuate due to supply chain, weather, and other economic factors.
- The Midwest region accounts for a significant portion of U.S. bean production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of dried beans sold per pound in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides insights into food affordability and consumer purchasing patterns in a key U.S. market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in the Midwest region.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to monitor food costs, consumer behavior, and regional economic conditions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule, though there may be lags in reporting due to the survey methodology.
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Citation
U.S. Federal Reserve, Average Price: Beans, Dried, Any Type, All Sizes (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200714233), retrieved from FRED.