BUSINESS

Why does my cheeseburger cost so much? Most ingredients touched by inflation.

Apr 19, 2022, 8:42 AM | Updated: 12:42 pm
cheeseburger inflation...
FILE: The price increases in the average cheeseburger are a good guidepost for understanding the current impacts of inflation. Photo by Andrew Burton/Getty Images

SALT LAKE CITY — You are at your favorite restaurant and you just ordered a cheeseburger and the price has jumped 30% since you were here last. What’s the story? You guessed it. Inflation. From gasoline to cheeseburgers, Americans are seeing the biggest price increases since 1981.

Ximena Bustillo from Politico joined Inside Sources host Boyd Matheson to talk about her article with Steven Overly published Wednesday: This cheeseburger explains your bigger grocery bill.

Is the $20 cheeseburger on the horizon?

“Is our cheeseburger going to become a $20 cheeseburger? Or what does the horizon look like for those of us who love cheeseburgers?” Boyd asked.

Bustillo said there are many factors involved in the rising prices consumers see today. They include drought, wildfire, labor, and supply chain disruptions.

“So many are sometimes even out of like human hands to really know how much we’re going to be paying next month,” she said.

Why your cheeseburger costs so much more today

According to the Bustillo/Overly article, these cheeseburger ingredients have jumped in price since March 2021:

  • The price of bread went up 7.1%. (Ukraine is a major wheat exporter.)
  • The price of bacon has jumped 18.2%. (Four companies — Smithfield, JBS, Tyson, and Hormel — control 67 percent of the market. The Biden administration has made the industry a focus of its anti-consolidation push.)
  • The price of an avocado is 39% higher. (More than 80% of avocados sold and distributed for consumption in the U.S. are imported from Mexico, specifically Michoacan. Organized-crime groups in Mexico have become involved in agriculture production. The USDA suspended importation due to a U.S. inspector in Mexico receiving a death-threat phone call from a cartel gangster.)
  • The price of tomatoes has inched up 1.7%.
  • The cost of lettuce increased by 12%. Blame this price increase on ice, low temperatures and wind in California and Arizona, and also gasoline.
  • The price of mayo is up 14.9% due to stiff competition in the soybean-oil market.
  • The price of cheese climbed 3.1%. (Milk is perishable so it has to be shipped quickly and that means gasoline.)
  • And most importantly of all, beef, which costs 16% more than last year. (Tyson, JBS, National and Cargill control over 80% of the beef-supply chain. COVID-19 sickened workers, so processing plants were forced to close. They are struggling to find enough workers now to reach full capacity.)

Dave & Dujanovic can be heard weekdays from 9 a.m. to noon. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app, as well as Apple Podcasts and Google Play. 

 

Today’s Top Stories

Business

In this undated photo released by Toyota Motor Corp., its bZ4X vehicle is shown during an online pr...
YURI KAGEYAMA AP Business Writer

Toyota recalls electric car for faulty wheel that may detach

The "bz" in the recalled model's name, as well as others in the works, stands for a "beyond zero" series, including sport-utility vehicles of all sizes, pickup trucks and sportscars, according to Toyota.
4 days ago
A model wears a creation as part of the Giorgio Armani men's Spring Summer 2023 collection presente...
COLLEEN BARRY

Gucci unveils ‘HaHaHa’ collaboration with Harry Styles

Gucci has teamed up with Harry Styles for a between-season collection that infuses tailoring with adolescent joy. The collection is titled “HaHaHa.”
8 days ago
A now hiring sign in an Arby's window.; the Utah employment summary for May showed a slight slowing...
Amie Schaeffer

May’s Utah employment report showing signs of inflation impact

The employment rate in Utah remains steady but may be showing signs of inflation's impact, according to the state's May employment summary.
11 days ago
Attic fire in Cowabunga Bay building....
Mark Jones

Cowabunga Bay Water Park set to reopen Thursday after fire last weekend

Following a building fire last weekend, Draper's Cowabunga Bay Water Park is scheduled to reopen to the public on Thursday.
13 days ago
Utah airbnb rentals rising interest rates affecting millennial home buyers...
Dan Bammes

One realtor sees “signs of hope” in Utah housing market

With home listings up and home sales down, one Utah realtor is encouraged about the future of the Utah housing market, leading to what she calls "signs of hope."
14 days ago
Some executives are keeping their employees home in a way to save money and possibly help lower the...
Heather Kelly

Working from home could help bring down gas prices

Some businesses are having employees return to working remotely as a way to have money on gas, and possibly help lower gas prices.
18 days ago

Sponsored Articles

Tax Harassment...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
Follow @ikeyospe...

Tax Tuesday: The Most Common Mistakes People Make When Filing Their Taxes

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.
Follow @ikeyospe...

Tax Tuesday: How will last year’s child tax credits affect you?

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.
Why does my cheeseburger cost so much? Most ingredients touched by inflation.