Americans are finding ways to put hamburgers and steaks on the grill despite higher prices.
According to the Bureau of Labor Statistics, the average price of a pound of ground beef is about $6.75, up about 13% from a year ago. While inflation is partly to blame, National Public Radio reported in May that the U.S. cattle herd is at a 75-year low, due in part to drought, increased industry consolidation and international competition. However, demand for beef and other cuts of meat continues to remain high as the summer cookout season reaches its peak.
Stodola's IGA Meat Manager Mike Mauer says while meat prices may be be high, they have remained relatively steady. He adds that shopping sale prices can help people enjoy some of their favorite cuts of meat without putting additional strain on their budgets.
While some products are expected to increase in price, the USDA says others, including eggs and farm-level fruit prices, could decline this year compared with last year.
