"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.

  • Butiki@mander.xyz
    4·
    3 hours ago

    Hmm idk about that. Where I’m from, 500g of minced beef is over 7 euros, and everyone I know has basically stopped buying beef, bc it’s not worth it anymore. And we are historically a big consumer of beef. Tbh less beef consumption is probably a good thing, in the grand scheme of things, but that doesn’t stop people complaining about it ofc.