Americans buying less as beef, chicken prices skyrocket

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The steaks are too high!

About two-thirds of US shoppers say the prices of red meat and chicken have soared since the start of the year, according to a new poll.

Meat lovers have been hit hardest by rising food costs out of the 2,000 grocery shoppers surveyed between May 17 and May 19, Bloomberg reported.

The poll, which was conducted by Morning Consult, found that around 65 percent said that red meat is more expensive now, while about 59 percent said that chicken has become pricier.

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Meanwhile, more than half of the shoppers said that fruit, toilet paper, milk and prepared foods also cost more.

Home prices, already through the roof, are expected to keep climbing.

A national housing shortage is showing no signs of easing and the cycle is not expected to break anytime soon.

“We expect a persistent imbalance between supply and demand in the housing market to generate double-digit home price appreciation this year and next,” wrote Ronnie Walker, economist at Goldman Sachs.

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The median existing-home price in April was up 19% from last year to $341,600, according to the National Association of Realtors. The price surge came as city dwellers fled to regional hubs and the more socially-distant suburbs after being given the opportunity to work from home indefinitely amid the COVID-19 pandemic.


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