Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in the West Census Region - Urban
This dataset tracks average price: milk, fresh, low fat (cost per gallon/3.8 liters) in the west census region - urban over time.
Latest Value
2.80
Year-over-Year Change
-7.34%
Date Range
1/1/1998 - 10/1/2000
Summary
This economic trend measures the average price of low-fat fresh milk per gallon in the West Census Region's urban areas. It provides important insights into consumer spending and inflationary pressures in the dairy 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: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in the West Census Region - Urban metric tracks the retail price of one-gallon containers of low-fat milk in urban areas of the Western United States. This data series is a key indicator of consumer price dynamics and can inform policy decisions related to food prices and cost of living.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts use this metric to assess inflationary trends and consumer purchasing power in the dairy industry.
Key Facts
- Milk is a staple food item for many households.
- Prices can fluctuate due to supply chain issues and commodity market changes.
- This metric helps track affordability of a key dairy product.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of one-gallon containers of low-fat fresh milk in urban areas of the West Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer spending patterns and inflationary pressures in the dairy market, which is crucial for policymakers and market analysts.
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: Policymakers and market analysts use this metric to assess cost of living, consumer purchasing power, and inflationary trends in the dairy industry.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be occasional delays in data collection and reporting.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Low Fat (Cost per Gallon/3.8 Liters) in the West Census Region - Urban (APU0400709213), retrieved from FRED.