Average Price: All Uncooked Other Beef (Excluding Veal) (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
This dataset tracks average price: all uncooked other beef (excluding veal) (cost per pound/453.6 grams) in the midwest census region - urban over time.
Latest Value
7.11
Year-over-Year Change
2.13%
Date Range
1/1/1998 - 6/1/2025
Summary
This economic trend measures the average price per pound of all uncooked beef products (excluding veal) in the Midwest Census Region's urban areas. It is a key indicator of consumer beef prices and meat inflation in the 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: All Uncooked Other Beef (Excluding Veal)' trend tracks the average retail price paid by consumers for a pound of beef products in urban Midwest markets. This metric is used by economists and policymakers to analyze regional consumer price trends and the state of the beef industry.
Methodology
The data is collected through monthly surveys of retail stores by the U.S. Bureau of Labor Statistics.
Historical Context
This price trend is an important input for understanding consumer spending, inflation, and the overall state of the Midwest beef market.
Key Facts
- Beef is a major component of the Midwest diet and economy.
- Prices have risen steadily over the past decade due to supply chain issues.
- Consumers closely monitor beef prices as an indicator of overall inflation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per pound of all uncooked beef products (excluding veal) sold in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This beef price metric is an important indicator of consumer inflation and the state of the regional beef market, which is crucial for understanding spending patterns and the overall Midwest economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of retail stores conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this beef price trend to monitor consumer inflation, gauge the health of the regional beef industry, and inform policy decisions related to agriculture, trade, and consumer spending.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay. Regional coverage may not fully represent all Midwest markets.
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Citation
U.S. Federal Reserve, Average Price: All Uncooked Other Beef (Excluding Veal) (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200FC4101), retrieved from FRED.