Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Illinois
ILPCEPCFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,119.00
Year-over-Year Change
69.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures for nondurable goods, specifically food and beverages purchased for off-premises consumption in Illinois. It provides insights into consumer spending patterns and can inform policymakers and analysts about economic conditions.
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 Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Illinois trend represents the average amount spent per person on food and non-alcoholic beverages purchased for consumption outside of food service establishments within the state. This metric is an important indicator of consumer demand and household purchasing power.
Methodology
The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess consumer behavior and the overall health of the Illinois economy.
Key Facts
- Illinois per capita food and beverage spending averaged $3,257 in 2021.
- This trend has shown steady growth over the past decade, increasing by 23% since 2011.
- Food and beverage purchases make up approximately 12% of total personal consumption expenditures in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on nondurable goods, specifically food and beverages purchased for off-premises consumption in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into consumer spending patterns and household purchasing power, which are important indicators of the overall health of the Illinois economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess consumer behavior and make informed decisions about economic policies and market conditions in Illinois.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical lag of 3 months. There may be revisions to previously published data as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Illinois (ILPCEPCFOOD), retrieved from FRED.