Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400703512 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.60
Year-over-Year Change
15.12%
Date Range
1/1/1991 - 9/1/2011
Summary
This economic trend measures the average price of steak, round, graded and ungraded, excluding USDA Prime and Choice, in the West Census Region's urban areas. It provides insight into consumer prices for a common meat product.
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 series tracks the cost per pound of this type of steak in the West region's urban markets. It is used by economists and policymakers to analyze consumer spending patterns and inflationary pressures.
Methodology
The data is collected through surveys of retailers in the West Census Region.
Historical Context
This trend offers insight into consumer purchasing behavior and can inform monetary and fiscal policies.
Key Facts
- The data is reported monthly.
- Steak is a major protein source for many households.
- Prices can reflect changes in supply, demand, and production costs.
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 the urban areas of the West Census Region.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending and inflationary pressures for a common household meat product, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers in the West Census Region.
Q: How is this trend used in economic policy?
A: This trend can inform monetary and fiscal policies by offering insights into consumer purchasing behavior and price changes.
Q: Are there update delays or limitations?
A: The data is reported monthly, with no known significant delays or limitations.
Similar APU Trends
Average Price: Yogurt, Natural, Fruit Flavored (Cost per 8 Ounces/226.8 Grams) in the Northeast Census Region - Urban
APU0100710122
Average Price: Chicken, Fresh, Whole (Cost per Pound/453.6 Grams) in the South Census Region - Urban
APU0300706111
Average Price: Electricity per Kilowatt-Hour in Cincinnati-Hamilton, OH-KY-IN (CBSA)
APUA21372610
Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in Pittsburgh, PA (CBSA)
APUA1047471A
Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in Buffalo-Niagara Falls, NY (CBSA)
APUA10574712
Average Price: Gasoline, Leaded Regular (Cost per Gallon/3.8 Liters) in San Diego-Carlsbad, CA (CBSA)
APUS49E74712
Citation
U.S. Federal Reserve, Average Price: Steak, Round, Graded and Ungraded, Excluding USDA Prime and Choice (APU0400703512), retrieved from FRED.