Beef prices in the US are rising due to a historic drought and herd liquidation.
Fast food chains like McDonald's and Burger King have already raised prices due to inflation.
AdvertisementInflation has not been kind to food prices — especially for eating out.
AdvertisementThe USDA reported that this led to record retail beef prices, with an all-fresh value of $8.15 per pound for July.
"The reality is over the next couple of years, beef prices are going to continue to go higher," Zimmerman said.
Persons:
Burger King, —, Chris Kempczinski, Burger, Lance Zimmerman, Rabo AgriFinance, McDonald's, Erin McDowell, Zimmerman, Taco Bell, Jay Bandy, Bandy, Dudler
Organizations:
Service, Starbucks, McDonald's, KFC, Brands, Department of Agriculture, Goliath Consulting, Accenture
Locations:
Olive, Taco, Georgia