Good news at the grocery store for a change! After many months of rising prices on everything from gas to groceries, prices for certain cuts of beef are falling — at least for now.
According to Information Resources, Inc. , while inflation continues to be an issue for consumers, the overall cost of beef dropped by 0.3% between June and July 2022. It dropped another 0.7% during the four-week period ending on Aug. 7.
Prices for beef peaked in Oct. 2021, then dropped. According to IRI numbers shared by The Wall Street Journal, another dramatic drop took place in late March of 2022.Customers are seeing lower prices for these beef products at the meat counter for a couple of reasons. “We’re getting healthier from a labor perspective,” Shane Miller, the head of Tyson Food’s beef and pork unit, told the Journal. “We’re running more volume to our plants.”
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