Customers Hunt For Deals As Beef And Pork Prices Skyrocket
BOSTON (CBS) – A trip to the grocery store is costing us all more these days and a big reason for the jump in prices is meat.
Beef and pork prices are soaring. At McKinnon’s Meat Market in Somerville, the owners and the customers are constantly on the hunt for the best deals.
McKinnon’s owner Jimmy Contos says prices are out of control. “People are being more careful. I see people trying to squeeze every dollar.”
WBZ-TV’s Paula Ebben reports
According to the Bureau of Labor Statistics, in just the past two years, sirloin steak prices have jumped up 7% to $6.28/pound. Round roast is up 15% to $4.50/pound. Ground beef has increased a whopping 34% to $2.87/pound. And bacon is also up 34% to an average of $4.81/pound. One reason for the hike in beef prices is the shortage of cattle here in the U.S. caused by the recent drought in Texas.
There are ways to cut back on costs. Contos advises a customer looking for a roast beef on the bone to feed 19 people to instead get the boneless strip sirloin. The 12 pound piece of meat costs $69 dollars without the bone. If the customer had opted for the bone-in version she likely would have spent about $20 more.
On the flip side, you may have better luck finding deals on chicken if you leave the bone in. And Contos says more and more people are turning to chicken as a cheaper meat alternative. And for good reason, chicken prices are holding steady.
And with Thanksgiving right around the corner, you can also expect to pay more for that frozen turkey. Price are up 15% in the past two years.