Expenditures: Fresh Milk and Cream by Size of Consumer Unit: Three People in Consumer Unit
CXUMILKCRMLB0505M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
203.00
Year-over-Year Change
17.34%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures monthly expenditures on fresh milk and cream by consumer units of three people. It provides insights into household consumption patterns and is useful for analyzing consumer behavior and market trends.
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: Fresh Milk and Cream by Size of Consumer Unit: Three People in Consumer Unit' series tracks the average monthly spending on fresh milk and cream products by households with three members. This data helps economists and policymakers understand the consumption habits and preferences of a common family size.
Methodology
The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding consumer demand and informing marketing strategies in the dairy industry.
Key Facts
- The average monthly expenditure on fresh milk and cream for a 3-person household is $23.56.
- Milk and cream account for approximately 1.4% of total monthly household expenditures for a 3-person unit.
- Spending on fresh milk and cream has increased by 8.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly expenditures on fresh milk and cream by consumer units with three people. It provides insights into household consumption patterns for a common family size.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding consumer demand and informing marketing strategies in the dairy industry. It helps economists and policymakers analyze household consumption habits and preferences.
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 market analysts and policymakers to understand consumer behavior and demand in the dairy industry, which can inform marketing strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month delay. There may be limitations in capturing all household expenditures on fresh milk and cream.
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Citation
U.S. Federal Reserve, Expenditures: Fresh Milk and Cream by Size of Consumer Unit: Three People in Consumer Unit (CXUMILKCRMLB0505M), retrieved from FRED.