Bacon is more expensive for Americans than it has been in the past 40 years, and yes, that is accounting for inflation.
That hankering for pork chops is costing you about 7% more than 12 months ago. The average price for that slab of bacon to accompany the Sunday morning spread has jumped nearly 28% during the past 12 months, inflation-adjusted Consumer Price Index data show.
The supply chain issues and inflationary pressures that have become all too common in these pandemic times certainly have played their roles in the pork price hikes, alongside a slew of industry-specific influence.
President Biden’s administration, for its part, believes prices are high because a couple of large companies control the majority of market share, and has outlined plans to level the playing field. By some analysts’ expectations, the higher prices aren’t expected to ease anytime soon.