Expenditures: Fats and Oils by Region: Residence in the Northeast Census Region
CXUFATSOILSLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
186.00
Year-over-Year Change
64.60%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures household expenditures on fats and oils by residents in the Northeast Census Region of the United States. It provides insights into consumer spending patterns and the regional variation in food consumption habits.
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 Expenditures: Fats and Oils by Region: Residence in the Northeast Census Region data series tracks the average monthly spending on fats and oils, such as cooking oils, butter, and margarine, by households located in the Northeastern United States. This metric is useful for analyzing regional differences in dietary preferences and the economic factors influencing food purchasing decisions.
Methodology
The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is valuable for policymakers, market analysts, and businesses to understand regional consumer behavior and how it may impact the food and agriculture industries.
Key Facts
- The Northeast Census Region includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- Fats and oils account for a significant portion of household food budgets in the Northeast.
- Spending on fats and oils can be influenced by factors like food prices, health trends, and cultural preferences.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly household expenditures on fats and oils, such as cooking oils, butter, and margarine, by residents in the Northeast Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional variations in consumer spending patterns and dietary preferences, which can be useful for policymakers, market analysts, and businesses in the food and agriculture industries.
Q: How is this data collected or calculated?
A: The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers to understand regional differences in consumer behavior and how it may impact the food and agriculture industries, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and methodological changes of the Consumer Expenditure Survey, which may result in occasional delays or revisions.
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Citation
U.S. Federal Reserve, Expenditures: Fats and Oils by Region: Residence in the Northeast Census Region (CXUFATSOILSLB1102M), retrieved from FRED.