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Updated · Bloomberg · May 12US Beef Prices Hit Record Highs Above $7 a Pound as Inflation Pressure Mounts
6 articles · Updated · Bloomberg · May 12
- April data showed average U.S. ground beef prices topping $7 per pound for the first time, while steak climbed above $13 per pound.
- The record readings, reported Tuesday by the Bureau of Labor Statistics, mark a fresh jump in consumer beef costs.
- That rise adds pressure on the Trump administration to show progress in curbing inflation as food prices remain a visible strain for households.
With cattle herds at a 75-year low, when can consumers expect real relief from record-high beef prices? Are climate change and industry consolidation the real long-term drivers behind today's soaring beef costs?