The New Normal of High Prices

Commentary
Beef eaters got some good news over the last several days. Prices are starting to relax a bit for the higher-end cuts. They had become so unaffordable over the last six months that even the most devoted fans of New York strip and fancy filets switched to cheaper roasts and ground beef to satisfy their cravings.
We don’t have to eat bugs just yet!
The hope that this represents a trend is easily dashed, however, when you notice that the prices of ground beef are still up 27 percent over the pre-lockdown price—roughly in line with the price of meat in general—while the prime cuts are up a whopping 32.8 percent. Imagine that: the prices of prime cuts need to fall by a third before we can live in the dream world of 2019 again….
Source: The Epoch Times

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