Average Price: Rice, White, Long Grain, Precooked (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400701311 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.39
Year-over-Year Change
10.31%
Date Range
1/1/1980 - 12/1/1981
Summary
This economic trend measures the average price of long grain, precooked white rice per pound in the West Census Region's urban areas. It provides insight into a key household staple's affordability for consumers.
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: Rice, White, Long Grain, Precooked (Cost per Pound/453.6 Grams) in the West Census Region - Urban series tracks the market price of this common grocery item. It is used by economists and policymakers to monitor food inflation and household purchasing power.
Methodology
The data is collected through surveys of retailers in the West Census Region's urban areas.
Historical Context
This price trend is relevant for analyzing consumer spending and the state of the regional food market.
Key Facts
- Rice is a dietary staple for many American households.
- Precooked rice is a convenient, shelf-stable product.
- The West Census Region includes 13 states.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of long grain, precooked white rice per pound in the West Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides insight into the affordability of a common household food item, which is useful for analyzing consumer spending and regional food inflation.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers in the West Census Region's urban areas.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor food prices and household purchasing power in the West Census Region.
Q: Are there update delays or limitations?
A: This data is published monthly, but may have a 1-2 month lag in reporting.
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Citation
U.S. Federal Reserve, Average Price: Rice, White, Long Grain, Precooked (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400701311), retrieved from FRED.