New Record: Ground Beef $4 for the first time

NEW RECORD: POUND OF GROUND BEEF TOPS $4 FOR FIRST TIME (Source CNS News)

Although the overall Consumer Price Index dropped by 0.2 percent in August, the price index for food rose 0.2 percent, with the average price for a pound of ground beef rising to $4.013 per pound–the first time it has ever topped $4 per pound. In July, according to the Bureau of Labor Statistics, the average price for a pound of ground beef had been $3.884 per pound—which was the record price up to that point.  From July to August, the average price jumped 12.9 cents, an increase of 3.3 percent in one month. A year ago, in August 2013, the average price for a pound of ground beef was $3.454 per pound. Since then, it has climbed 55.9 cents–or about 16.2 percent. Just five years ago, in August 2009, the average price for a pound of ground beef was $2.134, according to the BLS. The price has since climbed by $1.879 per pound—or 88.1 percent.

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