It’s getting expensive to bring home the bacon.
The average cost of a pound of bacon in the United States is almost 0.90 cents from the beginning of the Biden administration, according to data from the Department of Labor released this week.
This is not a recovery surge from a pandemic lockdown low. In fact, the price of bacon is up by even more when compared to prepandemic prices.
Bacon prices have been going up now for four straight months, about the same time period that inflation has been running much hotter than expected. In June the price had reached $6.67 per pound, a new record.
The University of Michigan’s Consumer Sentiment survey for June showed that consumer complaints about the prices of cars, houses, and durable household goods are at an all-time record. Now filling the family breakfast order may be about to join the list.