President Joe Biden expressed shock on Monday that the cost of ground beef was so high, blaming consolidation in the meat market among the top processors.
The president recalled a conversation he overheard between his wife, first lady Jill Biden, and a friend, while he was sitting in the kitchen at home.
“She was saying, ‘Do you realize it’s over 5 dollars for a pound of hamburger meat?!’ 5 dollars?” Biden recalled.
“Well this is partly, you know, the pound of beef today costs 5 bucks compared to less than 4 bucks before the pandemic,” the president continued.
The cost of ground beef spiked in June 2020 and then went back down, before rising quickly again in January 2021.