Nowcasting the inflation in US requires analyzing a blend of high-frequency indicators, like prices of Energy, gasoline, electricity, transport, food and lumber as they provide insight into the overall price development.
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The Retail Gasoline Prices tracks the average retail price of regular gasoline, across all formulations, in U.S. dollars per gallon. This figure reflects the nationwide average price consumers pay at the pump for regular-grade gasoline. It serves as an important indicator of fuel costs for consumers and businesses and provides insights into broader energy market trends, including supply, demand, and price fluctuations in the oil and fuel sectors.
The Select Carcass Price of Beef, represents the market price of select-grade beef carcasses, measured in U.S. dollars. This value reflects the wholesale price for beef that meets the USDA’s select quality grade, which is typically leaner and less marbled than higher-grade beef. The select carcass value is an important indicator for the beef industry, influencing pricing decisions for producers, retailers, and consumers. It provides insights into the supply and demand dynamics of the U.S. beef market.
The "Total US Rig Count, Gas" refers to the number of active rigs in the United States that are specifically drilling for natural gas. This count is broken down by basin, showing the distribution of gas drilling activity across various regions. The rig count is a key indicator of the level of exploration and production activity in the oil and gas sector, with higher counts suggesting increased industry activity and potential future production. It provides insights into the health of the natural gas sector and overall energy market trends in the U.S.
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