Average Price: Round Roast, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200703312 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.90
Year-over-Year Change
18.83%
Date Range
2/1/1992 - 5/1/1999
Summary
This economic trend measures the average price of round roast, excluding USDA Prime and Choice grades, in the Midwest Census Region of the United States. It provides insight into consumer meat prices and food costs in a key domestic 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 round roast price trend represents the typical cost per pound for this common beef cut across urban areas in the Midwest region. It is an important indicator for assessing retail meat price dynamics and consumer purchasing power.
Methodology
The data is collected through surveys of food retailers and compiled by the U.S. Bureau of Labor Statistics.
Historical Context
This price information is used by economists, policymakers, and market analysts to understand inflationary pressures and consumer behavior.
Key Facts
- Round roast is a common, economical beef cut.
- Midwest is a major domestic consumer market.
- Prices exclude premium USDA grades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price per pound for round roast beef, excluding the premium USDA Prime and Choice grades, in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This price information provides insight into food cost dynamics and consumer purchasing power in a key domestic market, which is important for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food retailers and compiled by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This price trend is used by economists and policymakers to monitor inflationary pressures and assess consumer behavior and purchasing power.
Q: Are there update delays or limitations?
A: There may be typical data collection and reporting delays, but the trend provides a reliable, regularly updated indicator of round roast prices in the Midwest region.
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Citation
U.S. Federal Reserve, Average Price: Round Roast, Graded and Ungraded, Excluding USDA Prime and Choice (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703312), retrieved from FRED.