"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.

  • GissaMittJobb@lemmy.ml
    5·
    4 hours ago

    Sample size of 1, but I’ve basically stopped buying beef since many years back because of how much more expensive it was as compared to chicken or vegetarian options. Granted, I like the climate benefits as well, but I wound down my beef purchasing before that was a more primary concern of mine.

    This is in Sweden where beef prices as compared to alternatives have been high for a long time.