Soaring Beef Prices Force Shoppers To Find Other Foods
January 30, 2012 6:30 PM
By Oren Liebermann
PHILADELPHIA (CBS) -- At Cappuccio’s Meats in the Italian Market, the cuts of beef are cutting into the profits.
“Every week when I talk to my suppliers, I’m amazed by how much it’s going up,” said owner Domenick Crimi.
Beef prices soared more than 10 percent last year according to the Department of Agriculture, and they will likely go up at least another 5 percent this year.
“It bumps up a bit, comes down a tiny bit, then it bounces again, and when it bounces, it goes up another dime, 15, 20 cents,” said Crimi, “and sometimes that’s in a week.”
