Average Price: Ground Chuck, 100% Beef (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400703111 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.87
Year-over-Year Change
13.63%
Date Range
1/1/1980 - 2/1/1988
Summary
This economic trend measures the average price of ground chuck (100% beef) per pound in the West Census Region's urban areas. It provides insight into consumer food costs and can inform policymakers and analysts about regional price dynamics.
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: Ground Chuck, 100% Beef (Cost per Pound/453.6 Grams) in the West Census Region - Urban trend tracks the retail price of this common beef product in the western United States. It is used to analyze changes in consumer purchasing power and regional price variations for a key protein source.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for assessing the cost of living, consumer spending patterns, and regional economic conditions.
Key Facts
- Ground chuck is a common 80-85% lean beef product.
- The West Census Region includes 13 states from the Pacific to the Rockies.
- Prices can vary significantly by region due to factors like transportation costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of ground chuck (100% beef) per pound in the West Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into regional consumer food costs and can inform analysis of purchasing power, inflation, and economic conditions.
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 trend is used by policymakers, economists, and market analysts to assess cost-of-living changes, consumer spending patterns, and regional economic dynamics.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the trend only covers urban areas in the West Census Region.
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Citation
U.S. Federal Reserve, Average Price: Ground Chuck, 100% Beef (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400703111), retrieved from FRED.