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Meat Inflation Soars as Pork Shortage and U.S. Grilling Collide

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United States
07/14/2021 08:31 AM
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Meat Inflation Soars as Pork Shortage and U.S. Grilling Collide
An increase in backyard barbecuing collided with a shortage of hogs as U.S. consumer prices for pork jumped in June by the most in 25 years.

Pork prices climbed 3.8% from a month earlier while beef gained 4%, according to a U.S. Bureau of Labor Statistics report on Tuesday. The elevated meat prices contributed to the biggest overall surge in U.S. consumer prices since 2008.

Food inflation has been on the rise since the coronavirus upended supply chains, with sick workers shutting down meat plants while consumers pivoted away from restaurants to prepare more food at home. The American hog herd hasn’t recovered from culling during the onset of the pandemic. Meanwhile, droughts globally have sent animal-feed prices soaring, and labor shortages at slaughterhouses have also pushed up prices for pork, beef and chicken.

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