The price of bacon in U.S. supermarkets hit a record high level for the third consecutive month in August.
The monthly Consumer Price Index (CPI) report showed bacon averaged $4.35 a pound at retail during August, up from $4.21 in July. It’s also up 21 percent from the $3.59 price a year earlier and is the highest monthly average, unadjusted for inflation, since record-keeping began in 1980.
While lower pork supplies are the big factor in the price rise, analysts say bacon’s growing popularity beyond its traditional role as a breakfast food has also contributed to declining supplies. For example, many fast-food chains and other restaurants have greatly increased their use of bacon as a sandwich topping.
While bacon continued rising in August, the broader U.S. retail average for meat, poultry, fish and eggs fell for the first time in eight months. That’s partly because of cheaper prices for chicken and turkey, according to the CPI report.