Average Price: All Uncooked Beef Steaks (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200FC3101 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.33
Year-over-Year Change
12.07%
Date Range
1/1/1998 - 6/1/2025
Summary
This economic trend tracks the average price per pound of all uncooked beef steaks in the Midwest Census Region's urban areas. It provides valuable 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 Beef Steaks (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban series measures the typical retail price paid by consumers for a range of beef steak cuts in the Midwest's urban areas. This metric is used by economists and policymakers to analyze consumer purchasing power, producer pricing, and overall trends in the beef industry.
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 monitored by the Federal Reserve and other agencies to assess inflationary pressures and consumer confidence.
Key Facts
- Beef is a major component of the Consumer Price Index (CPI).
- The Midwest is a significant beef-producing region in the U.S.
- Prices can fluctuate due to factors like feed costs, supply, and demand.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per pound of all uncooked beef steaks sold in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This beef price trend provides important insights into consumer spending, inflation, and the overall health of the beef industry, which is crucial for economic policymaking and market analysis.
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: This beef price trend is closely monitored by the Federal Reserve and other agencies to assess inflationary pressures and consumer confidence, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions based on additional reporting.
Related Trends
Average Price: Gasoline, Unleaded Midgrade (Cost per Gallon/3.785 Liters) in the West North Central Census Division
APU024074715
Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the South Atlantic Census Division
APU035072511
Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in the Middle Atlantic Census Division
APU012074714
Average Price: Electricity per 500 Kilowatt-Hour in Portland-Salem, OR-WA (CBSA)
APUA42572621
Average Price: Ground Beef, Lean and Extra Lean (Cost per Pound/453.6 Grams) in the South Census Region - Urban
APU0300703113
No. 2 Heating Oil Prices: New York Harbor
DHOILNYH
Citation
U.S. Federal Reserve, Average Price: All Uncooked Beef Steaks (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200FC3101), retrieved from FRED.