It may be disheartening the price for a pint of beer in Europe has risen to $ 6.30 due to harvest difficulties and a Russian wheat crisis, reports the London Telegraph. Sadly, you will find also problems with bacon prices increasing. Bacon costs 20 percent more than it did a year ago, says CNBC. Researchers say it is good for the U.S. economy to have bacon prices going up, although those who love their bacon are probably quite upset.
$ 4 per pound is how much bacon costs
The Department of Agriculture claims that the steep bacon price increase over the past year is the result of a classic supply-and-demand situation. There’s a shortage of pork bellies, as pig farms have trimmed their herds during the recession. Tomatoes are at the moment ripe, so BLT sandwiches are a hot item – and thus there’s a need for more bacon. Obama’s Next Crisis,” is what the National Review calls it right about now.
Bad for the few, but great as a whole
The National Review didn’t explain all the good things that come from this. Consumers are looking to invest more of their carefully hoarded money in bacon and bacon-related products – basically, luxury items. It’s a step in the right direction, for when individuals reach for luxury items, things tend to be going better as a whole, economically. Research firm Allendale, Inc.’s Rich Nelson explained that “They may not be purchasing steak rather than hamburger, but they will put bacon on their hamburger or other things.”
Restaurants know this, so bacon is often a newly featured item on tried-and-true recipes.
Demand makes for a fattening
Demand has caused many of the pig farmers to pick up some more for the herd. Hog tends to be the most picked up thing. Nelson feels like prices will go down. This should happen by mid-2011. More generic brands of bacon are going to be bought meaning fattier bacon with less meat to cook after losing this fat. According to Jason Mosely of Mr. Baconpants, “Your BLT deserves the best bacon you can afford!” despite the fact that most know the economy must be recovering because of the greatness of bacon, including CNBC’s Heather Lauer. Hopefully this means that most plan to celebrate International Bacon Day patriotically. It is September fourth. It really is.
Further reading
CNBC
cnbc.com/id/38725523/
The only problem with bacon is that it makes you thirsty… for more bacon.
youtube.com/watch?v=CaK9bjLy3v4
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