Average Price: Shoulder Picnic, Bone-In, Smoked (Cost per Pound/453.6 Grams) in the West Census Region - Urban
This dataset tracks average price: shoulder picnic, bone-in, smoked (cost per pound/453.6 grams) in the west census region - urban over time.
Latest Value
1.10
Year-over-Year Change
1.67%
Date Range
4/1/1981 - 6/1/1981
Summary
This economic trend measures the average price per pound for bone-in, smoked shoulder picnic meat products in the West Census Region's urban areas. It provides insight into regional consumer prices and food costs.
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: Shoulder Picnic, Bone-In, Smoked (Cost per Pound/453.6 Grams) in the West Census Region - Urban is a key data point that economists and policymakers use to monitor food price trends and inflation. It represents the average retail price for this specific meat product across the West region's urban markets.
Methodology
The data is collected through surveys of food retailers and processors by the U.S. Bureau of Labor Statistics.
Historical Context
This price trend is relevant for understanding consumer spending patterns, food supply chain dynamics, and regional economic conditions.
Key Facts
- The West Census Region includes 13 states, from Montana to California.
- Shoulder picnic is a cut of pork from the upper part of the front leg.
- Prices are reported in U.S. dollars per pound (453.6 grams).
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per pound for bone-in, smoked shoulder picnic meat products in the West Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides important insights into regional consumer food costs and inflation, which are key factors for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food retailers and processors by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This price trend is used by the Federal Reserve, government agencies, and market analysts to monitor regional economic conditions and inflationary pressures.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may not fully capture all regional price variations.
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Citation
U.S. Federal Reserve, Average Price: Shoulder Picnic, Bone-In, Smoked (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400704413), retrieved from FRED.