Beef, that all-American food, is getting harder for Americans to afford

MoneyWatch Beef, that all-American food, is getting harder for Americans to afford .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham April 13, 2026 / 11:22 AM EDT / CBS News Add CBS News on Google While the cost of other food staples, like eggs, has sunk in the last year, ground beef prices remain searingly high. Data from the Federal Reserve Bank of St. Louis shows that ground beef prices were $6.70 a pound in March, up nearly 16% from a year ago. Beef steaks, which were $12.73 per pound in March, are also up 16% from a year ago.In 2021, by comparison, ground beef cost as little as $3.96 a pound, while a decade ago it averaged $3.75. Unfortunately for beef lovers, those prices aren't likely to recede anytime soon. "There is nothing to suggest any relief from high beef prices," said Derrell Peel, a professor of agricultural economics at Oklahoma State University.In fact, beef prices could even rise in the short-term, offering Americans little relief at the grocery store as summer barbecue season heats up.In its latest forecast, the U.S. Department of Agriculture estimated that beef prices will climb more than 10% in 2026, and perhaps by as much as 18%."I would expect beef prices to remain high for the remainder of this year and potentially into next year as well," said David Ortega, a food economist at Michigan State University. Beef costs are continuing to surge amid a recent burst in inflation caused by the Iran war, which is driving up global oil and fuel prices. The Consumer Price Index last week showed that inflation in March jumped 3.3% from a year ago, almost a full percentage point higher than the previous month's reading.The conflict in the Middle East c...