Average Price: Milk, Fresh, Low-Fat, Reduced Fat, Skim (Cost per Gallon/3.8 Liters) in the West Census Region - Urban
APU0400FJ1101 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.38
Year-over-Year Change
-12.52%
Date Range
4/1/2018 - 6/1/2025
Summary
This economic trend measures the average price of low-fat, reduced-fat, and skim milk in the West Census Region of the United States. It provides valuable insights into consumer prices and inflation for a key household grocery item.
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, Low-Fat, Reduced Fat, Skim (Cost per Gallon/3.8 Liters) in the West Census Region - Urban series tracks the average retail price of these milk varieties in urban areas of the western United States. This metric is used by economists and policymakers to monitor consumer price trends and assess the impact of factors like supply, demand, and production costs on a crucial dairy product.
Methodology
The data is collected through surveys of retail establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This milk price trend is relevant for analyzing consumer spending, cost-of-living adjustments, and the overall state of the dairy market.
Key Facts
- Milk is a staple household grocery item.
- Prices can fluctuate due to factors like supply, demand, and production costs.
- The West Census Region includes 13 states in the western United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average retail price of low-fat, reduced-fat, and skim milk in urban areas of the West Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This milk price trend provides important insights into consumer spending, inflation, and the overall state of the dairy market, which is crucial for economic analysis and policymaking.
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 milk price trend is used by economists and policymakers to monitor consumer prices, assess the impact of factors like supply and demand, and inform decisions related to cost-of-living adjustments and the overall dairy market.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Bureau of Labor Statistics, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Price: Milk, Fresh, Low-Fat, Reduced Fat, Skim (Cost per Gallon/3.8 Liters) in the West Census Region - Urban (APU0400FJ1101), retrieved from FRED.