By Arlenys Tabare
Although in recent months the price of some foods in American supermarkets has decreased considerably, others continue to be through the roof, greatly affecting the budget of the average family in the United States.
According to the latest forecast from the United States Department of Agriculture (USDA), the price of beef, an essential food among American households, could rise 10% to 18% this year.
According to economists, The vital ingredient of the increase in prices is the reduction of livestock herds due to the high consumption of meat; According to USDA, cattle numbers in the US fell 1% in January, one of the lowest levels.
Specialists also consider that the conflict in Iran with the rise in energy prices could intensify the real problem, with the increase in the cost of fuel being passed on to consumers’ bills.
David Ortega, a food economist at Michigan State University, said: “beef prices can be expected to remain high for the rest of this year and possibly next year as well”he told CBS.
The economist also added that “The increase in the price of diesel will affect the costs of the entire agri-food supply chain, from the operation of the combine to the transportation of the grain that the farmers need, including the transportation of the processed meat products to the store,” he said.
What types of beef have increased?
According to a report from the Federal Reserve Bank of St. Louis, several beef prices were recorded in March; for example, the ground beef increased 16% in the last 12 months, reaching $6.70 per pound, while beef steaks rose to $12.73 a pound in March.
For Derrell Peel, professor of agricultural economics at Oklahoma State University, “there is nothing to suggest that there is going to be any relief in high beef prices,” he said.
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