Bringing Home the Bacon? Price Up 55% in 4 Years
(CNSNews.com) - The price of bacon has jumped 55.2 percent in four years, according to data released last week by the Bureau of Labor Statistics (BLS).
In December 2009, sliced bacon was $3.57 per pound. In December 2013, it was $5.54 per pound--an increase of $1.97, or 55.2 percent.
The increase in the price of bacon over the past four years has outpaced the increase in the overall consumer price index or CPI. The CPI was 215.949 in December 2009 and 233.049 in December 2013—an increase of 7.9 percent.
The jump in the price of bacon has been driven by increasing demand for bacon, according to Brandon Gunn, Executive Vice President of Texas Pork Producers Association.
“The reasoning behind these record prices is because the demand for bacon/pork bellies is at an all-time high,” said Gunn. “We are seeing more food service companies and restaurants, both fast food and high end ones alike, incorporating bacon into all parts of their menu more now than ever before. The demand for bacon has just outpaced the demand for other pork cuts over the stretch of the last 5 years.”