COLORADO SPRINGS, Colo. (KRDO) – The Federal Reserve reports the price of beef has significantly outstripped the average increase in products and services from a year ago.
The average product or service has increased by about 2.6% from a year ago, based on the Consumer Price Index for All Urban Consumers. The price of a pound of beef has increased by almost 12% in that same time.
The consumer price Index for all Urban Consumers measures a large number of different products and services to estimate how much the average person is spending. It’s a strong inflation indicator…