Bacon Is the Most Expensive It Has Been in the Last 40 Years
And prices aren't expected to drop before the end of this year.
Do you remember when bacon was more or less a personality trait in the early aughts? It was an era when bacon and mustaches were actual decor items, and the word "hipster" had the internet in a chokehold. Thankfully, we've moved past that particular cultural moment, but bacon is no less popular. Unfortunately, for all of those bacon fans out there, CNN reports that the meat is more expensive now for Americans than it has been in the last 40 years.
The average price of bacon has increased by about 28% in the last 12 months. The cost of pork has gone up due to a medley of pandemic-induced supply chain issues, cost inflation, and large companies owning and operating the lion's share of pork production. Experts say that the cost of pork is expected to stay high throughout 2021. Overall, production decreased in pork supply by 2% since 2020, while demand rose as panic buying led to shortages.
Prices should go back to normal by June 2022, when producers expect that demand and supply will level out. The Biden Administration has also released a plan to break up Big Pork, which will de-monopolize the four major companies and hopefully reduce some cost inflation.
If you're stressing about where you'll find some affordable bacon until costs level, local butchers are generally less impacted by the market fluctuations, and it's always great to support a local business. For the supermarket shoppers out there, you might just need to adjust your budget or your grocery list.