Consumer beef prices continue to rise, driven largely by strong domestic and international demand, labor shortages, supply chain disruptions and high input costs, to name a few. Wholesale beef prices climbed 14.2% from July to August 2021, and prices are expected to increase as high as 20% by the end of the year. September saw beef and veal prices already sit 12.7% higher than a year ago. Beef isn’t the only meat climbing in cost, poultry and fish now sits upwards of 5.5% higher, which has already exceeded the 4% to 5% increase last month. Pork prices are climbing, too, expecting to increase between 6.5% to 7.5% from last year’s prices. Overall food inflation is at 3% to 4% this year, regardless of grocery or restaurant locations. Read more on grocery store prices and meat price hikes.
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