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Wednesday, January 26, 2022

Meat is finally getting cheaper

Prices of meat, poultry, fish and eggs fell 0.4% from November to December, according to seasonally adjusted data from the Bureau of Labor Statistics.

Within that category, meat dropped 0.9% overall — beef and veal down 2%, pork chops fell 1.1% cheaper and hot dogs 1.5%.

However, not all individual meat items came cheap. Breakfast sausages were up 1.4%, lunch meats became 2.7% more expensive, and chicken prices rose 0.3% in December.

And compared to the previous year, meat, poultry, fish and eggs gained 12.5%, beef, veal and bacon increased by 18.6%.

Experts noted that several challenges caused by new pandemic-era procedures have contributed to meat prices, including labor shortages, supply chain issues, high demand and slow operations at meat plants. The Biden administration recently unveiled a plan that includes a $1 billion investment to boost competition in the meat industry, and could help drive down prices in the long term.

While meat prices declined in December, other grocery staples became costlier.

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Overall food costs were up 0.5% in December, with grocery prices up 0.4% and restaurant prices up 0.6%.

And over the past year, eating at home became 6.5% more expensive, while restaurant prices rose 6% over that time.

Major food companies are increasing their prices. kraft henzo ,Different, And mondelez ,MDLZ, Both said last year that they would hike prices by early 2022 Chipotle ,CMG, And McDonald’s ,Delhi Municipal Corporation, Menu prices have also increased.
For the month, breakfast cereals became 1.4% more expensive, while the rice, pasta and cornmeal category rose 1.3%. Milk also became costlier by 1.3%. Fresh fruits were up 1.8%, with oranges and tangerines jumping 8.9%. Potato rose 4.9 per cent. Fireworks jumped 2.7%.

At least some sweets got a little cheaper: The price of fresh biscuits, rolls and muffins fell 1.7%, and fresh donuts became cheaper by 1%.

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World Nation News Deskhttps://www.worldnationnews.com
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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