Food prices—especially meat and poultry—have skyrocketed in the past four years and could be exacerbated further next year when new EPA rules for meat processors go into effect.
The U.S. Department of Agriculture’s Food Price Outlook for September reported that beef and veal prices had increased for six straight months, and predicted they will rise 5.2 percent overall in 2024. Poultry prices also rose, although by a smaller percentage, and are expected to rise more before year’s end.
The report traced the rise to factors including pandemic-related supply chain disruptions and the worst inflation since the 1980s.
Next year could see still higher meat and poultry prices at the grocery store, analysts say. That’s because an Environmental Protection Agency (EPA) proposal is expected to put some meat processors out of business, resulting in potential job losses and supply chain disruptions….