Grocery store meat prices do not seem to be stopping their upward run anytime soon. Beef prices last month rose more than 3 percent, making them 17.5 percent higher than a year ago.
Pork is up 12 percent over last year, and poultry is up 6 percent.
A USDA economist shares what is behind the record run.
According to Carolyn Chelius, “Very high demand. Seeing a lower supply due to pandemic related supply chain issues. One-off events like drought, cybersecurity attack.”
She adds that it is possible we could see more price increases in the coming years.
Related:
Where is the beef money going?
Producers and Packers are not in the same business
Food prices jumped 3.5% this year compared to the normal pace of 2%