Average Price: All Uncooked Ground Beef (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
This dataset tracks average price: all uncooked ground beef (cost per pound/453.6 grams) in the midwest census region - urban over time.
Latest Value
6.42
Year-over-Year Change
8.44%
Date Range
1/1/1998 - 6/1/2025
Summary
This economic trend measures the average price of all uncooked ground beef per pound in the Midwest Census Region's urban areas. It provides crucial insights into consumer spending and inflation within the beef market.
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: All Uncooked Ground Beef (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban trend tracks the retail price of ground beef across the Midwest's urban markets. This metric is widely used by economists and policymakers to monitor consumer price pressures and gauge the overall health of the beef industry.
Methodology
The data is collected through surveys of retail establishments in the Midwest region.
Historical Context
This trend is closely watched by the Federal Reserve and other institutions to assess inflationary risks and consumer purchasing power.
Key Facts
- Ground beef accounts for over 40% of total beef consumption in the U.S.
- Beef prices have risen over 20% in the past 2 years due to supply chain disruptions.
- The Midwest region produces nearly one-third of the nation's beef supply.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of all uncooked ground beef per pound in the urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into consumer spending, inflation, and the overall health of the beef industry in the Midwest.
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 closely watched by the Federal Reserve and other institutions to assess inflationary risks and consumer purchasing power.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Price: All Uncooked Ground Beef (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200FC1101), retrieved from FRED.