"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.

  • Zier@fedia.io
    241·
    5 hours ago

    But egg prices are at a historically low price right? I mean he promised. He also promised to deport 10 million ‘illegals’ on day one, and end the Ukraine war on “day one”. So it’s just fine that beef is expensive since President Felon made good on all his other promises, right? /s