Average Price: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban
APU0200703422 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.68
Year-over-Year Change
15.62%
Date Range
1/1/1980 - 9/1/2000
Summary
This economic trend measures the average price of T-bone steak in the Midwest Census Region's urban areas. It provides insights into consumer food prices and regional market conditions.
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: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban trend tracks the retail price of a specific beef cut in a key geographic market. This data is used by economists and policymakers to analyze consumer spending patterns and regional price dynamics.
Methodology
The data is collected through surveys of retail establishments in the Midwest Census Region's urban areas.
Historical Context
This trend is relevant for understanding consumer inflation, regional price variations, and food supply chain dynamics.
Key Facts
- T-bone steak is a premium beef cut.
- The Midwest region is a major U.S. agricultural production area.
- Urban consumers typically pay higher food prices than rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of T-bone steak, a premium beef cut, in the urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer food prices and regional market conditions, which are important for understanding consumer inflation, spending patterns, and supply chain dynamics.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in the Midwest Census Region's urban areas.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze regional price variations and consumer spending on food, which informs decisions on monetary policy, agricultural policy, and consumer protection.
Q: Are there update delays or limitations?
A: The data is published with a short delay, typically 1-2 months, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Average Price: Steak, T-Bone, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the Midwest Census Region - Urban (APU0200703422), retrieved from FRED.