Annual
This dataset tracks annual over time.
Latest Value
261.76
Year-over-Year Change
39.28%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual series measures the annual average price of beef in the United States. It is a key economic indicator for the agricultural sector and consumer prices.
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 Annual series tracks the average price per pound of beef sold to consumers over a 12-month period. This metric is widely used by economists, policymakers, and industry analysts to understand trends in food prices and consumer purchasing power.
Methodology
The data is collected through surveys of retailers and producers by the U.S. Department of Agriculture.
Historical Context
Beef prices are a closely watched component of the Consumer Price Index and have implications for inflation, trade, and agricultural policy.
Key Facts
- Beef is a major component of the average American diet.
- Beef prices have risen steadily over the past decade.
- The US is a leading global producer and exporter of beef.
FAQs
Q: What does this economic trend measure?
A: The Annual series measures the average price per pound of beef sold to consumers in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: Beef prices are a closely watched economic indicator with implications for consumer spending, inflation, and agricultural policy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and producers by the U.S. Department of Agriculture.
Q: How is this trend used in economic policy?
A: Beef prices are a component of the Consumer Price Index and have impacts on trade, inflation, and agricultural policy decisions.
Q: Are there update delays or limitations?
A: The data is reported on an annual basis with a lag of several months.
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Citation
U.S. Federal Reserve, Annual (PBEEFUSDA), retrieved from FRED.