Average Price: Steak, Porterhouse, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in the South Census Region - Urban
This dataset tracks average price: steak, porterhouse, u.s. choice, bone-in (cost per pound/453.6 grams) in the south census region - urban over time.
Latest Value
4.46
Year-over-Year Change
10.36%
Date Range
1/1/1980 - 2/1/1988
Summary
This economic trend measures the average price per pound for porterhouse steak, a high-quality cut of beef, in the Southern U.S. urban areas. It is an important indicator of consumer food prices and inflation.
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: Steak, Porterhouse, U.S. Choice, Bone-In trend tracks the retail cost per pound of this premium beef product in the South Census Region's urban areas. This data point is used by economists and policymakers to analyze trends in consumer spending and the overall cost of living.
Methodology
The data is collected through surveys of food retailers in the region.
Historical Context
Porterhouse steak prices are monitored as part of broader consumer price index and inflation measures.
Key Facts
- Porterhouse steak is a high-quality, expensive beef cut.
- Prices can fluctuate based on cattle supply, feed costs, and consumer demand.
- The South Census Region includes AL, AR, FL, GA, KY, LA, MS, NC, SC, TN, VA, WV.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per pound for porterhouse steak, a premium beef cut, in urban areas of the South Census Region.
Q: Why is this trend relevant for users or analysts?
A: Porterhouse steak prices are an important indicator of consumer food costs and overall inflation, which are closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food retailers in the South Census Region.
Q: How is this trend used in economic policy?
A: Porterhouse steak prices are incorporated into broader consumer price index and inflation measures that inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag time, but may not fully capture all regional price variations.
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Citation
U.S. Federal Reserve, Average Price: Steak, Porterhouse, U.S. Choice, Bone-In (APU0300703423), retrieved from FRED.