Meat Prices Soar as Inflation Bites U.S. Consumers
WASHINGTON, D.C. (CBS News) -- Meatless Mondays could soon be followed by Tofu Tuesdays, at least among more frugal shoppers. Americans with an eye on the rising cost of groceries may want to curtail their purchases of animal protein, which have collectively notched double-digit price hikes over the past year.
Since October of 2020, the price of meat, poultry and fish have all risen almost 12%, according to the government's Consumer Price Index. The price of beef has climbed even further, soaring more than 20% over the last year, while chicken has increased 7.5% and pork 14%, labor data show.
Since early 2020, before the COVID-19 pandemic, beef, pork and chicken prices are up roughly 26%, 19% and 15%, respectively, according to EconoFact, a nonpartisan publication that covers economic affairs.
