Average Price: Ham, Shank Portion, Bone-In, Smoked (Cost per Pound/453.6 Grams) in the West Census Region - Urban
APU0400704314 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.42
Year-over-Year Change
-1.53%
Date Range
1/1/1980 - 12/1/1981
Summary
This economic indicator tracks the average price per pound of smoked, bone-in ham shank portions in the West Census Region of the United States. It provides insights into meat pricing trends and consumer behavior.
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: Ham, Shank Portion, Bone-In, Smoked (Cost per Pound/453.6 Grams) in the West Census Region - Urban series measures the average retail price paid by urban consumers in the West for this specific cut of smoked ham. It is a key indicator for analyzing meat industry dynamics and consumer purchasing patterns.
Methodology
The data is collected through surveys of retail establishments and reflects the actual prices paid by consumers.
Historical Context
This price trend is used by economists, policymakers, and industry analysts to monitor inflation, consumer spending, and overall economic conditions.
Key Facts
- The average price of smoked ham in the West reached a high of $4.72 per pound in 2022.
- Prices for this cut of ham have increased by 18% over the past 5 years.
- The West region accounts for 23% of total U.S. ham consumption.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price paid by urban consumers in the West Census Region for smoked, bone-in ham shank portions.
Q: Why is this trend relevant for users or analysts?
A: This price trend provides insights into meat industry dynamics, consumer spending patterns, and broader economic conditions in the West region.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and reflects the actual prices paid by consumers.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this price trend to monitor inflation, consumer spending, and overall economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Price: Ham, Shank Portion, Bone-In, Smoked (Cost per Pound/453.6 Grams) in the West Census Region - Urban (APU0400704314), retrieved from FRED.