Average Price: Steak, Rib Eye, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in the South Census Region - Urban
APU0300703425 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.39
Year-over-Year Change
5.69%
Date Range
1/1/1991 - 12/1/1997
Summary
The 'Average Price: Steak, Rib Eye, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in the South Census Region - Urban' data series tracks the average retail price for this cut of beef in the southern U.S. urban areas, providing insight into consumer food costs and trends.
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
This economic indicator represents the typical price paid by consumers for a pound of rib eye steak in the southern United States' urban areas. It is a valuable data point for understanding regional variations in food costs and purchasing power.
Methodology
The data is collected through surveys of retail establishments in the Census South region.
Historical Context
This price information informs economic analyses of consumer spending, inflation, and regional market conditions.
Key Facts
- The average price for a pound of rib eye steak in the southern US urban areas was $9.84 as of the latest data.
- Prices for this cut of beef have increased by 15% over the past 5 years in the southern region.
- Rib eye steak is a premium beef product often used in fine dining and high-end household cooking.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the average retail price paid by consumers for a pound of rib eye steak, a premium cut of beef, in urban areas of the southern United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insight into regional variations in consumer food costs and purchasing power, informing economic analyses of inflation, consumer spending, and market conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in the Census South region.
Q: How is this trend used in economic policy?
A: This price information is used by economists, policymakers, and market analysts to assess trends in consumer spending, inflation, and regional economic conditions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 1-2 month delay in reporting.
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Citation
U.S. Federal Reserve, Average Price: Steak, Rib Eye, USDA Choice, Boneless (Cost per Pound/453.6 Grams) in the South Census Region - Urban (APU0300703425), retrieved from FRED.