Saturday, September 21, 2013

Beef Prices Set New Record Highs

Retail beef prices rose nearly 4¢ in August to reach $5.394/lb, a record high, reports Beef Magazine. This should be no problem, though, if you switch to lower priced goods as beef climbs, as government theorizes consumers do as part of its chained-inflation index. For example, peanut butter prices are down 5.7% over the last 12 months, according to the BLS.

So if you switch from steak to peanut butter sandwiches, you won't notice any increase in the cost of eating.

(ht Pippa Malmgren)

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