"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.

  • argarath@lemmy.world
    23·
    4 hours ago

    Trump is imposing tariffs on Brazil, and Brazil is one of the biggest beef producers in the world and the biggest choice producer, so that explains those two