Beef Inflation Tests Wallets as Shoppers Tighten Belts

Beef prices in the US remain elevated near historic highs, helping push overall food-inflation and prompting shoppers to buy less beef or switch to cheaper proteins like chicken. A Circana survey shows beef volumes down about 0.3% in the 13 weeks through mid-July, even as national ground-beef prices hovered around $7 per pound and individual stores reported prices near $8 in some places. While imports from Mexico and Argentina and plant closures by Tyson hint at some relief, industry observers say the downturn in demand is gradual and relief will not be immediate, with many households still feeling stretched.