What’s the beef? Rising meat prices at Walmart, Costco, Aldi, Publix, and more prompt Department of Justice probe
The U.S. government is expanding its investigation into the rising price of beef to eight major grocery chains and big box retailers. The current average price for ground beef was $6.88 per pound, as of July, according to the Federal Reserve Bank of St. Louis (FRED). That number is up from $3.88 per pound in January 2020, according to the Bureau of Labor Statistics . In a post on X , The…
The U.S. Department of Justice (DOJ) is investigating the rising prices of meat at major grocery chains and big box retailers, including Walmart, Costco, Aldi, and Publix. According to the Federal Reserve Bank of St. Louis, the average price for ground beef was $6.88 per pound in July, up from $3.88 per pound in January 2020. The DOJ has sent letters to eight companies requesting detailed information about their beef pricing, including wholesale purchases, prices, costs, and margins.
Associate Attorney General Stanley E. Woodward, Jr. mentioned that beef prices are a critical concern to Americans and a priority for the DOJ. The investigation is an expansion of a previous probe into the meatpacking industry and beef prices, which began in May, focusing on three companies controlling the meat processing market.
Assistant Attorney General Stanley E. Woodward, Jr. stated that they are open to supply and demand explanations but will expect clear evidence if supply is low and prices are high. Inflation and rising costs of living, such as gas prices and home prices, have contributed to the affordability crisis in the United States.
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