News

Biggest meat price increase in seven years

Retail meat prices during March rose more than ten percent, the biggest increase in almost seven years.

Beef and veal prices surged 12 percent over year-ago levels, while retail pork prices were up over 11 percent.

The overall ten-point-four percent increase in meat prices was the largest year-over-year increase for any month since they jumped ten-point-six percent in July 2004.

The Bureau of Labor Statistics’ price index for food consumed at home last month rose one percent from February and three-point-six percent from March 2010. 

For dairy products, average prices rose one-point-three percent from February and three-point-seven percent from March of last year.