Average Price: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400703411 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.01
Year-over-Year Change
-5.56%
Date Range
1/1/1980 - 1/1/1988
Summary
This economic trend measures the average price per pound for USDA Choice, bone-in rib roast in the West Census Region's urban areas. It provides insight into 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: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the West Census Region - Urban series tracks the market price for a common meat product, which is useful for analyzing household budgets and consumer behavior.
Methodology
The data is collected through surveys of food retailers in the West Census Region's urban areas.
Historical Context
This price trend is relevant for policymakers, market analysts, and consumers to understand regional food cost dynamics.
Key Facts
- Prices are reported in cost per pound/453.6 grams.
- Data covers urban areas in the West Census Region.
- Rib roast is a common, high-quality beef cut.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average price per pound for USDA Choice, bone-in rib roast in the West Census Region's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides insight into food costs and consumer purchasing power, which is useful for analyzing household budgets and consumer behavior.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food retailers in the West Census Region's urban areas.
Q: How is this trend used in economic policy?
A: This price trend is relevant for policymakers, market analysts, and consumers to understand regional food cost dynamics.
Q: Are there update delays or limitations?
A: The data may have some update delays due to the survey-based collection method.
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Citation
U.S. Federal Reserve, Average Price: Rib Roast, USDA Choice, Bone-In (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400703411), retrieved from FRED.