Average Price: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the West Census Region - Urban
This dataset tracks average price: steak, t-bone, usda choice, bone-in (cost per pound/453.6 grams) in the west census region - urban over time.
Latest Value
4.09
Year-over-Year Change
9.80%
Date Range
1/1/1980 - 9/1/1984
Summary
This economic trend measures the average price per pound of bone-in T-bone steak, USDA Choice grade, in the West Census Region of the United States. It provides insight into consumer food prices and regional price variations.
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 T-bone steak price trend represents the retail cost of this premium beef cut for urban consumers in the western U.S. Economists and policymakers use this data to analyze regional food price dynamics and consumer spending patterns.
Methodology
The U.S. Bureau of Labor Statistics collects this price data through consumer surveys in the West Census Region.
Historical Context
This trend is relevant for understanding household budgets, inflation, and regional economic conditions.
Key Facts
- Prices are reported per pound or 453.6 grams.
- Data covers the West Census Region, including 13 states.
- T-bone steak is a premium beef cut with both tenderloin and short loin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of bone-in T-bone steak, USDA Choice grade, per pound in the West Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into regional consumer food prices and household spending patterns, which are important for understanding inflation, cost of living, and economic conditions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this price data through consumer surveys in the West Census Region.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze regional food price dynamics and consumer spending, which informs decisions around inflation, household budgets, and economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a brief delay, and may not capture all regional variation or specialty retail channels.
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Citation
U.S. Federal Reserve, Average Price: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400703422), retrieved from FRED.