Beef Prices Surge to an All-Time High

Consumers experience rising beef prices as the market grapples with strong demand and issues in domestic production.

Man looking at beef steak in supermarket aisle — Source: coldsnowstorm / Getty

Kendall and Casey: “Life has just gotten unaffordable. Can we just say the obvious? For many people, life is simply unaffordable.”

There has been a massive spike in the prices of beef in July due to strong demand and long-term issues in domestic production. According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5 percent in July, compared to 0.2 percent for the broader food category. This capped an 11.3 percent increase over the past 12 months.