$4.10 Per Pound: Ground Beef Price Climbs to Another Record High

Ali Meyer | October 22, 2014 | 9:32am EDT
Font Size

(AP Photo)

(CNSNews.com) – The average price for a pound of ground beef climbed to another record high--$4.096 per pound--in the United States in September, according to data released today by the Bureau of Labor Statistics (BLS).

In August, according to BLS, the average price for a pound of all types of ground beef topped $4 for the first time--hitting $4.013.  In September, the average price jumped .083 cents, an increase of 2.1 percent in one month.

A year ago, in September 2013, the average price for a pound of ground beef was $3.502 per pound. Since then, it has climbed 59.4 cents--or about 17 percent in one year.

ype="node" title="Ground Beef Price

Five years ago, in September 2009, the average price for a pound of ground beef was $2.138, according to the BLS. The price has since climbed by $1.958 per pound—or 91.6 percent.

The overall Consumer Price Index measures the relative change in the prices of a basket of goods and services relative to a basis of 100.  Subordinate indexes measure the relative change in price for individual goods or services or categories of goods and services.

The price index for seasonally adjusted uncooked ground beef hit an all-time high of 289.685 in September, up 3.5 percent from July when it was 279.812. In 1947, the earliest year in this index, it was 26.5.

“The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in September on a seasonally adjusted basis,” the BLS reported. “Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.”

“Increases in shelter and food indexes outweighed declines in energy indexes to result in the seasonally adjusted all items increase,” said BLS. “The food index rose 0.3 percent as five of the six major grocery store food group indexes increased.”

“The index for meats, poultry, fish and eggs continued to rise, increasing 0.7 percent after a 1.5 increase in August,” said BLS. “The index for beef and veal rose 2.0 percent in September and has now risen 16.7 percent since January.”

mrc merch