Average Price: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in the South Census Region - Urban
This dataset tracks average price: short ribs, any primal source, bone-in (cost per pound/453.6 grams) in the south census region - urban over time.
Latest Value
2.46
Year-over-Year Change
0.61%
Date Range
1/1/1991 - 10/1/1993
Summary
This economic indicator tracks the average price of short ribs from any primal source with bone-in, per pound, in the South Census Region's urban areas. It provides insights into meat price trends and consumer purchasing patterns.
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: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in the South Census Region - Urban is a key indicator for monitoring the retail cost of this popular cut of beef. It helps economists and policymakers understand changing consumer demand and the broader state of the meat industry.
Methodology
The data is collected through surveys of retail establishments in the South Census Region's urban areas.
Historical Context
This price trend is relevant for analyzing household spending, food inflation, and the overall health of the meat production and distribution system.
Key Facts
- Beef short ribs are a popular cut for grilling and braising.
- The South Census Region accounts for over a third of the U.S. population.
- Prices of meat and other proteins are closely watched for signs of inflation.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average retail price per pound of bone-in short ribs from any primal source in the urban areas of the South Census Region.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides valuable insights into consumer demand and spending patterns for a popular meat product, which is important for understanding broader economic conditions and food inflation.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in the South Census Region's urban areas.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this indicator to gauge household spending, food inflation, and the overall health of the meat production and distribution system.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule, but there may be lags or sample limitations inherent to survey-based economic indicators.
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Citation
U.S. Federal Reserve, Average Price: Short Ribs, Any Primal Source, Bone-In (Cost per Pound/453.6 Grams) in the South Census Region - Urban (APU0300703431), retrieved from FRED.