LOUISVILLE, Ky. (WDRB) -- The latest inflation numbers this week show two grocery items where prices continue to rise this year: Coffee and Beef.
Coffee is not that big of an expense for most people, but beef is.
Customers have started to buy less these days as prices continue to get higher and higher. Prices are up 11% this past year, with ground beef now averaging a record $6.99 a pound.
The Farm Bureau blames low cattle inventory is at its lowest level in 60 years due to drought and high feed prices. Market owners have said that pricey strip steaks and ribeyes should come down in price once grilling season hits this fall and people start to turn to winter roasts instead.
On the contrary, home cooked steaks are still cheaper than dining out at a steakhouse.
Prices will level off when they have to or consumers will stop buying.
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