By Matthew Lysiak Beef prices skyrocketed to a new record high this Memorial Day weekend as industry experts warn costs could continue to rise even higher if current regulatory and economic conditions remain unchanged. Recently released data shows that “all fresh beef retail value,” a composite value based on choice beef, other beef, and hamburger […]
Tag: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.