Meat prices are falling, but other foods are not

These are the factors that affect inflation in 2022 1:17

New York (CNN Business) - 

Good news: After months of rising, meat prices are finally falling at the grocery store.

The bad news: Many other staples are getting more expensive.

The prices of meat, poultry, fish and eggs fell 0.4% from November to December, according to seasonally adjusted data from the Bureau of Labor Statistics.

Within this category, overall meats were down 0.9%: beef was down 2%, pork chops down 1.1%, and sausages down 1.5%.

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However, not all meat products fell in price.

Breakfast sausages were up 1.4%, cold cuts were up 2.7% and chicken was up 0.3% in December.

In the last year, meats, poultry, fish and eggs were 12.5% ​​more expensive, while beef and bacon were up 18.6%.

Meat prices finally fell in December.

Experts point out that multiple factors have contributed to the rise in meat prices, including labor shortages, supply chain problems, increased demand and delays in operations at plants. meat due to the new procedures at the time of the pandemic.

The Biden administration recently unveiled a plan that includes a $ 1 billion investment to boost competition in the meat industry, and that could help lower prices in the long term.

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Although meat prices fell in December, other food staples became more expensive.

The cost of food overall rose 0.5% in December, while grocery prices rose 0.4% and restaurant prices 0.6%.

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And in the last year, food at home has gone up 6.5%, while in restaurants prices have risen 6% in that time.

The main food companies have raised their prices.

Kraft Heinz and Mondelez said last year that they would raise prices in early 2022. Restaurants like Chipotle and McDonald's have also raised their menu prices.

In the month, breakfast cereals increased by 1.4%, while the category of rice, pasta and corn flour rose 1.3%.

The price of milk also rose 1.3%.

Fresh fruit rose 1.8%, with an 8.9% increase in oranges and mandarins.

Potatoes were up 4.9%.

Cookies were up 2.7%.

At least some sweets got a bit cheaper: the price of cookies, muffins and muffins dropped 1.7%, and donuts are now 1% cheaper.

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