Personal consumption expenditures: Nondurable goods: Food produced and consumed on farms (chain-type price index)
This dataset tracks personal consumption expenditures: nondurable goods: food produced and consumed on farms (chain-type price index) over time.
Latest Value
139.92
Year-over-Year Change
30.12%
Date Range
1/1/1929 - 1/1/2024
Summary
This index measures the price changes of food produced and consumed on farms in the United States. It is an important indicator of agricultural production costs and food price inflation.
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 Personal Consumption Expenditures (PCE) food produced and consumed on farms price index tracks the prices of food items that are both produced and consumed within the agricultural sector. It provides insights into the inflationary pressures faced by farmers and helps analysts understand broader food price dynamics.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This index is closely monitored by policymakers, economists, and agricultural market participants to assess the state of the farm economy and its impact on consumer food prices.
Key Facts
- The index has a base year of 2012 = 100.
- Food produced and consumed on farms accounts for a small portion of total food expenditures.
- Prices for this category have generally risen more slowly than overall food prices in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the price changes of food items that are both produced and consumed within the agricultural sector, providing insights into farm-level inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: The PCE food produced and consumed on farms price index is an important indicator for understanding broader food price dynamics and the state of the farm economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: This index is closely monitored by policymakers, economists, and agricultural market participants to assess inflationary pressures and the overall health of the farm sector.
Q: Are there update delays or limitations?
A: The index is published on a monthly basis with typical release lags of 1-2 months.
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Citation
U.S. Federal Reserve, Personal consumption expenditures: Nondurable goods: Food produced and consumed on farms (chain-type price index) (DFFDRG3A086NBEA), retrieved from FRED.