The Bureau of Labor Statistics, known as the BLS, published a report showing the seasonally-adjusted price index for meats, poultry, eggs and fish have hit an all time high in the month of May.
“The index for meats, poultry, fish and eggs has risen 7.7 percent over the span [last year],” says the BLS. “The index for food at home increased 0.7 percent, its largest increase since July 2011. Five of the six major grocery store food group indexes increased in May. The index for meats, poultry, fish, and eggs rose 1.4 percent in May after a 1.5 increase in April, with virtually all its major components increasing,”
Chicken has seen an extremely large increase in price. In fact, separate from the food index, it also hit an all time high in May as well. Just 10 years ago, in May 2004, a pound of chicken cost $1.04, compared with today’s price of $1.56 per pound, that is a price increase of 50%.
This begs the question, why? Comment with your thoughts below.