April 15th, 2014
08:00 PM ET
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Hitting the grocery store is getting more costly.

Beef prices are at a record high, and the cost of other staples, such as milk, butter, eggs, fruit and vegetables are climbing. With a severe drought ravaging farms across most of California, prices are at risk of shooting significantly higher this year.

The price of a pound of ground beef has hit $3.55 a pound, a record high even when adjusted for inflation, according to government readings for February. That's up 56% since 2010. The average for round steak is at $5.28, among the highest prices seen in the last 20 years.

And it's gotten worse lately. In February, beef posted the biggest month-over-month price increase in more than a decade thanks to bad weather.

Growing demand for U.S. beef from overseas markets like Asia is a big factor driving up prices, said Ricky Volpe, economist with the U.S. Department of Agriculture.

"These record high beef prices are here to stay," said Volpe. "It'll be a long time until supplies will be more in line with demand once again."

Read - Beef prices hit record high

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Filed under: Business and Farming News • Disaster • Drought • Environment • Farms

soundoff (6 Responses)
  1. Happy Vegan

    Anyone who still consumes meat deserves all the ills that go with it, including poorer health and higher prices. Meat is barbaric.

    April 16, 2014 at 11:50 am |
    • sam stone

      i am a vegan also. i got no problem with the price of meat, milk and cheese being at an all time high.

      April 17, 2014 at 9:20 am |
    • sam stone

      although, i am less sold on the "barbaric" claim

      April 17, 2014 at 9:21 am |
    • Thinking things through

      If you read the article (or shop for them), you will notice that the price of vegetables and fruit is rising, too. Or are you just eating gardenburgers?

      April 19, 2014 at 12:36 pm |
      • sam stone

        i dd read the article, and i know that the price of vegetables and fruit are rising. it doesn't bother me. things cost whatever they cost. i don't eat gardenburgers

        April 21, 2014 at 8:57 am |
        • sam stone

          i may eat some. i was under the impression that they were not vegan, but looking them up i see that two of the flavors of them are

          April 21, 2014 at 9:02 am |
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