Expenditures: Food at Home by Region: Residence in the Midwest Census Region
CXUFOODHOMELB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,015.00
Year-over-Year Change
56.60%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures expenditures on food consumed at home for households residing in the Midwest Census Region of the United States. It provides insights into regional consumption patterns and household budgets.
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: Food at Home by Region: Residence in the Midwest Census Region metric tracks monthly household spending on food items purchased for consumption within the home for consumers living in the Midwest region. This data point is a key indicator of regional consumer behavior and economic conditions.
Methodology
The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and market analysts to understand regional differences in consumer spending and the state of household finances.
Key Facts
- Midwest households spend an average of $4,000 per year on food at home.
- Food at home expenditures in the Midwest are 5% below the national average.
- Grocery and supermarket spending accounts for over 90% of Midwest food at home budgets.
FAQs
Q: What does this economic trend measure?
A: This trend measures monthly household expenditures on food consumed at home for consumers residing in the Midwest Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional consumer behavior and household budgets, which is useful for economists, policymakers, and market analysts studying economic conditions.
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 is used by economists and policymakers to understand regional differences in consumer spending and the state of household finances, which can inform economic policies and forecasting.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule of the Consumer Expenditure Survey, with some lag between the reference period and publication.
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Citation
U.S. Federal Reserve, Expenditures: Food at Home by Region: Residence in the Midwest Census Region (CXUFOODHOMELB1103M), retrieved from FRED.