Average Price: Milk, Fresh, Whole, Fortified (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Urban
APU0200709112 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.57
Year-over-Year Change
18.67%
Date Range
7/1/1995 - 4/1/2020
Summary
This economic trend measures the average price of fresh, whole, fortified milk per gallon in the Midwest Census Region's urban areas. It is a key indicator of food costs and consumer purchasing power.
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, Whole, Fortified (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Urban trend tracks the retail price of a common household grocery item. This metric is used by economists and policymakers to assess regional variations in the cost of living and consumer inflation.
Methodology
The data is collected through surveys of urban retail establishments in the Midwest Census Region.
Historical Context
This price trend informs analyses of consumer behavior, food security, and the regional economic impacts of inflation.
Key Facts
- Milk is a staple household grocery item.
- The Midwest region accounts for a significant share of U.S. milk production.
- Urban consumers typically face higher retail prices than rural areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of fresh, whole, fortified milk per gallon in urban areas of the Midwest Census Region.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for analyzing regional variations in consumer prices, cost of living, and household purchasing power.
Q: How is this data collected or calculated?
A: The data is collected through surveys of urban retail establishments in the Midwest Census Region.
Q: How is this trend used in economic policy?
A: This price trend informs analyses of consumer behavior, food security, and the regional economic impacts of inflation.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates, and there may be lags or regional variations in reporting.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Whole, Fortified (Cost per Gallon/3.8 Liters) in the Midwest Census Region - Urban (APU0200709112), retrieved from FRED.