Average Price: Ground Beef, 100% Beef (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400703112 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.89
Year-over-Year Change
8.55%
Date Range
1/1/1984 - 6/1/2025
Summary
This economic trend measures the average price of ground beef, 100% beef, per pound in the West Census Region of the United States, specifically for urban areas. It provides insight into consumer prices and inflation in the beef market.
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, 100% Beef (Cost per Pound/453.6 Grams) in the West Census Region - Urban tracks the retail price of a common household grocery item. This data series is used by economists and policymakers to analyze trends in consumer spending, cost of living, and regional price variations.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This price trend is relevant for monitoring inflation, consumer behavior, and regional economic conditions.
Key Facts
- Ground beef is a common household staple.
- Prices can vary significantly by region and urban/rural location.
- This data series dates back to 1978.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of ground beef, 100% beef, per pound in the West Census Region of the United States, specifically for urban areas.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides important insights into consumer spending, cost of living, and regional economic conditions related to a common household grocery item.
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 trend is used by economists and policymakers to monitor inflation, consumer behavior, and regional economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with minimal delays, providing timely insights into ground beef prices in the West Census Region.
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Citation
U.S. Federal Reserve, Average Price: Ground Beef, 100% Beef (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400703112), retrieved from FRED.