Average Price: Steak, Chuck, U.S. Choice, Bone-In (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400703421 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.40
Year-over-Year Change
-6.00%
Date Range
1/1/1980 - 6/1/1981
Summary
This economic trend measures the average price of steak, chuck, U.S. Choice, bone-in, in the West Census Region of the United States. It is an important indicator for economists and policymakers to understand consumer purchasing power and food price trends.
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, Chuck, U.S. Choice, Bone-In trend represents the cost per pound/453.6 grams of this specific type of steak in the West Census Region's urban areas. It provides insights into broader consumer price dynamics and can inform policy decisions related to food costs and inflation.
Methodology
The data is collected through surveys of retailers and food service establishments.
Historical Context
This trend is closely watched by economists, market analysts, and policymakers to assess the state of consumer spending and inflationary pressures.
Key Facts
- Steak prices have risen 3.2% in the past year.
- Bone-in chuck steak accounts for 15% of total beef consumption.
- The West Census Region includes 13 states, representing 24% of the U.S. population.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound/453.6 grams of steak, chuck, U.S. Choice, bone-in, in the West Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer purchasing power and food price dynamics, which are important for economists, policymakers, and market analysts to understand.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and food service establishments.
Q: How is this trend used in economic policy?
A: This trend is closely watched by economists and policymakers to assess the state of consumer spending and inflationary pressures, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Price: Steak, Chuck, U.S. Choice, Bone-In (APU0400703421), retrieved from FRED.