Average Price: Milk, Fresh, Low Fat, per One-Half Gallon (1.9 Liters) in U.S. City Average
APU0000709212 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.38
Year-over-Year Change
5.26%
Date Range
1/1/1980 - 9/1/1992
Summary
This economic trend measures the average price of low-fat milk per half-gallon in U.S. cities. It provides insight into consumer food costs and price inflation for a common household grocery item.
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, per One-Half Gallon (1.9 Liters) in U.S. City Average is a key data series that tracks the retail price of a standardized milk product across urban areas. It is used by economists and policymakers to monitor changes in food prices and understand the impact on consumer spending and cost of living.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This milk price trend is a component of the Consumer Price Index, a leading indicator used to assess inflationary pressures in the broader economy.
Key Facts
- Milk is a common household food item.
- Low-fat milk accounts for a significant portion of milk sales.
- Milk prices influence overall grocery expenditures for many families.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of low-fat milk sold in half-gallon containers across U.S. urban areas.
Q: Why is this trend relevant for users or analysts?
A: Milk prices are an important indicator of food costs and overall consumer inflation, which are crucial for economic policymaking and household budgeting.
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: This milk price trend is a component of the Consumer Price Index, a key metric used by the Federal Reserve and other policymakers to assess inflationary pressures in the economy.
Q: Are there update delays or limitations?
A: There may be a short delay in data reporting, and the series only covers urban areas, not rural or suburban regions.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Low Fat, per One-Half Gallon (1.9 Liters) in U.S. City Average (APU0000709212), retrieved from FRED.