Average Price: Ground Beef, Lean and Extra Lean (Cost per Pound/453.6 Grams) in the South Census Region - Urban
APU0300703113 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.51
Year-over-Year Change
12.18%
Date Range
1/1/1991 - 6/1/2025
Summary
This economic trend tracks the average price of ground beef, both lean and extra lean, per pound in the urban areas of the South Census Region. It provides valuable insights into consumer prices and regional food cost variations.
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: Ground Beef, Lean and Extra Lean (Cost per Pound/453.6 Grams) in the South Census Region - Urban measures the typical retail price for this staple food item. This data is used by economists, policymakers, and market analysts to understand consumer purchasing power and regional price dynamics.
Methodology
The data is collected through consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is closely monitored for its implications on household budgets and regional cost of living.
Key Facts
- Ground beef is a dietary staple for many American households.
- Prices can vary significantly by region and urban/rural location.
- Monitoring these price trends helps assess cost of living changes.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average retail price per pound for ground beef, including both lean and extra lean varieties, in urban areas of the South Census Region.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding regional consumer price dynamics and household purchasing power for a common food item.
Q: How is this data collected or calculated?
A: The data is collected through consumer price surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to assess regional cost of living, monitor inflationary pressures, and understand consumer spending patterns.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Price: Ground Beef, Lean and Extra Lean (Cost per Pound/453.6 Grams) in the South Census Region - Urban (APU0300703113), retrieved from FRED.