"There is not much relief in sight as long as supplies are tight and consumers keep buying," one expert told Newsweek.

Beef prices surged to an all-time high in July as the market grappled with consistently strong demand and long-term issues in domestic production.

According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5% in July, compared to 0.2% for the broader food category. This capped an 11.3% increase over the past 12 months.

Meanwhile, the price of ground beef and uncooked beef steaks has risen by 11.5% and 12.4%, respectively, both now at record levels.

  • sp3ctr4l@lemmy.dbzer0.comEnglish
    5·
    6 hours ago

    MAGA Economic Policy:

    All hat, no cattle.

    They somehow made the idiom so literally true that it basically isn’t an idiom any more.

    Well, my hat’s off to them on that accomplishment.