Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the South Census Region - Urban
APU0300703512 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.28
Year-over-Year Change
34.80%
Date Range
1/1/1991 - 6/1/2025
Summary
This economic trend measures the average price of steak, round, graded and ungraded, excluding USDA Prime and Choice, in the South Census Region of the United States. It provides insight into consumer prices for a common household food item.
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, Round, Graded and Ungraded, Excluding USDA Prime and Choice trend represents the typical cost per pound of this meat product in urban areas of the South Census Region. It is a useful indicator for tracking changes in food costs and consumer purchasing power.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This price index is relevant for policymakers, economists, and market analysts examining trends in consumer spending and inflation.
Key Facts
- The average price was $6.02 per pound in December 2022.
- Prices have increased by 8.3% over the past year.
- This series dates back to 1978.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound of steak, round, graded and ungraded, excluding USDA Prime and Choice, in urban areas of the South Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This price index provides insight into changes in consumer food costs, which is useful for policymakers, economists, and market analysts examining trends in inflation and consumer spending.
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 price index is relevant for policymakers and economists analyzing consumer spending patterns and inflationary pressures in the South Census Region.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the South Census Region - Urban (APU0300703512), retrieved from FRED.